What actionable objectives do #macropru authorities follow? Find out who targets resilience and who aims to dampen credit cycles or lean against house price exuberance #housing www.bis.org/publ/cgfs69....

Mitigating boom-bust cycles needs consistency across all housing-related policies. #Macropru alone can’t fix structural problems in housing markets - housing supply matters #housing www.bis.org/publ/cgfs69....

Longer terms and higher incomes have also helped but not as much as higher repayments

Here's my chart on how all the variables that go into deciding how much borrowers can afford have changed since the market peak in August 2022.
The rise in rates would've hit borrowing capacity hard but they've been largely offset by borrowers having higher repayments as a % of their income.

In response to Mike Bird’s question here I posted this thread on the other place. Just copying here as well

Feeling happy. My paper on direct lenders: dampening the financial accelerator www.bis.org/publ/work979... has just been accepted at the JMCB.

#EconSky 📉📈
Great virtual issue of the EJ that collects best recent papers published in the EJ on income and wealth distribution. Foreword by F. Lippi and F. Portier.
All articles in this virtual issue will be Free-to View for a limited time only, until May 2024. Don’t miss it!

👉 bit.ly/3Rk5cQj

My recent paper in Economic Journal:
In the Econ job market men and women are recommended differently: letters for women stress hard work, those for men more likely highlight brilliance. This affects job placement.
Link to Paper: t.co/HUieaMuERd
With Giovanni Facchini and Markus Eberhardt

Looking forward to discussing nonbank lending and monetary policy papers.ssrn.com/sol3/papers....
@bundesbank conference. Similar conclusions to my paper on US direct lenders (www.bis.org/publ/work979...), but for households and firms in Denmark