Macro-prudential limits would have had ‘substantial’ impact in Ireland last decade, paper finds
Research published by the Central Bank of Ireland models the impact
The use of macro-prudential instruments would have had "substantial impacts" on house prices In Ireland between 2003 and 2010, according to a research technical paper published by the Central Bank of Ireland today (December 22).
In Credit conditions, macro-prudential policy and house prices, Robert Kelly, Fergal McCann and Conor O'Toole use loan-level data on Irish mortgages to test how restrictions on loan-to-value, loan-to-income and debt service ratios would impact house prices through their
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