Zusammenfassung
This article analyzes the effects of macroprudential regulation in a dynamic stochastic general equilibrium model (DSGE) model with a mortgage market where banks and borrowers are subject to a leverage constraint. I evaluate the economic impact of (i) a countercyclical non-risk-adjusted bank capital (BC) requirement ratio, (ii) a countercyclical loan-to-value ratio (LTV), and (iii) both rules ...