Canadian government wields macro-prudential power, IMF paper says
Softening in mortgage market since 2010 attributable to government policy
The moderation in Canadian house prices and mortgage credit since 2010 can be attributed at least in part to macro-prudential policy measures implemented by the government, according to a paper by two IMF economists.
In the paper, With great power comes great responsibility: macro-prudential tools at work in Canada, Ivo Krznar and James Morsink write that the combination of the requirement that most lenders have insurance for high loan-to-value (LTV) mortgage loans, and the central role of the
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