Using a large-scale online survey experiment, we study the effects of changes in three borrower-based macroprudential …

macroprudential policy to reduce this amplitude. First, we exploit the availability of a previous calibration to the UK, characterised …

macroprudential policy between ensuring financial system resilience and smoothing the macro-financial cycle. Against this backdrop …, this paper provides detailed considerations regarding how to (re)set macroprudential policy tools in response to housing … different macroprudential instruments. Finally, it introduces a taxonomy allowing to assess a country’s macroprudential stance …

as fortifying the macroprudential framework, including with more effective toolkits for early intervention …

In view of regional house prices drifting apart, we examine whether regionally differentiated macroprudential policies …, national macroprudential policy or one that targets region-specific LTV ratios. In terms of reducing variances of house prices …, regionally differentiated macroprudential policy performs best, provided the policy authorities are concerned with stabilising …