Eurozone lending constraints are effective but only after a time lag, researcher says
IMF paper looks at efficacy of tighter lending on curbing house prices and credit
Lending restrictions in the eurozone are effective in curbing house prices and credit but they take time to have an impact, according to a researcher from the International Monetary Fund.
“This lag between implementation and ultimate effect… should be factored in by policy-makers,” says author Tigran Poghosyan, a senior economist at the IMF.
To assess the efficacy of these macro-prudential measures, Poghosyan uses data on 99 lending standard restrictions implemented in 28 eurozone countries
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