[ ]once we have entered a downturn, financial regulators will not tighten a policy to head off financial instability [ ]after loosening housing-related macroprudential policies in the lead-up to the crisis, policymakers have spent much of the past decade tightening these same policies [ ]more important, we propose an analytical framework that maps these government forecasts into a decision-making process for implementing housing-related macroprudential policies, such as changes to required loan-to-value (LTV) ratios and maximum loan maturities for residential mortgages [ ]after loosening housing-related macroprudential policies in the lead-up to the crisis, policymakers have spent much of the past decade tightening these same policies
Calibrating Macroprudential Policies for the Canadian Mortgage Market