ECB paper looks at borrower-based macro-pru limits

European Central Bank, Frankfurt
The European Central Bank, Frankfurt

Macro-prudential limits on what people can borrow have improved households’ resilience in 19 European Union countries, a working paper published by the European Central Bank finds. 

In The effectiveness of borrower-based macro-prudential policies, Stelios Giannoulakis, Marco Forletta, Marco Gross and Eugen Tereanu examine 19 EU countries between 1995 and 2017. They present a variant of the simulation model created by Marco Gross and Javier Población in a 2017 paper.

The research looks at the

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