Tag Archives: housing

Borrower-based macroprudential tools (3/4): When success is hard to observe

Posted on July 27, 2026 by Francesc Rodríguez Tous

In the first two posts of this series (here and here) I have argued that the case for borrower-based macroprudential tools is sound and that, while they appear to be effective, they have distributional costs. I finished the previous post … Continue reading →

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Borrower-based macroprudential tools (2/4): Distributional effects

Posted on July 5, 2026 by Francesc Rodríguez Tous

In the first post, I made the case for borrower-based tools: individually rational borrowing can be collectively excessive, and it can be optimal for the regulator to cap how much households can borrow against their homes. But I ended on … Continue reading →

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