-regulated, more fragile nonbanks. The bank-to-nonbank shift largely neutralizes total credit and associated consumption effects for …

mortgage tax from being levied on borrowers to being levied on banks; (ii) some areas, for historical reasons, were exempt from … results: First, after the policy change, the average mortgage rate increases consistently with a strong - but not complete …-full tax pass-through, the tax shift increases banks' risk-taking. More affected banks reduce costly mortgage insurance in case …

the security level for each bank in each period, we find that during the crisis, banks with higher trading expertise …

We analyze the effects of macroprudential policies on local bank credit cycles and interactions with international … financial conditions. For identification, we exploit the comprehensive credit register containing all bank loans to individuals …

We analyze the effects of macroprudential policies on local bank credit cycles and interactions with international … financial conditions. For identification, we exploit the comprehensive credit register containing all bank loans to individuals … that macroprudential policies are effective in mitigating bank risk-taking in household lending over the local bank credit …