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The French housing market: what would be the impact of macroprudential measures?

Author

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  • Avouyi-Dovi, S.
  • Lecat, R.
  • Labonne, C.

Abstract

This issue of Rue de la Banque assesses the impact on real estate prices, construction and housing loans of macroprudential measures leading to a rise in housing loan rates, a decline in the debt service-to-income ratio (instalments over income) or a limitation of the original maturity of loans. These three types of measures have a significant impact on housing loan developments and, to a lesser extent, house prices due to the effect of loan variations on the housing stock.

Suggested Citation

  • Avouyi-Dovi, S. & Lecat, R. & Labonne, C., 2016. "The French housing market: what would be the impact of macroprudential measures?," Rue de la Banque, Banque de France, issue 26, june..
    • Handle: RePEc:bfr:rueban:2016:26
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    File URL: https://publications.banque-france.fr/sites/default/files/medias/documents/rue-de-la-banque_26_2016-06_en.pdf
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    References listed on IDEAS

    as
    1. Bernanke, Ben & Gertler, Mark & Gilchrist, Simon, 1996. "The Financial Accelerator and the Flight to Quality," The Review of Economics and Statistics, MIT Press, vol. 78(1), pages 1-15, February.
    2. Edward L. Glaeser, 2013. "A Nation of Gamblers: Real Estate Speculation and American History," American Economic Review, American Economic Association, vol. 103(3), pages 1-42, May.
    3. S. Avouyi-Dovi & C. Labonne & R. Lecat & S. Ray, 2017. "Insight from a Time-Varying VAR Model with Stochastic Volatility of the French Housing and Credit Markets," Working papers 620, Banque de France.
    4. Avouyi-Dovi, S. & Labonne, C. & Lecat, R., 2014. "The housing market: the impact of macroprudential measures in France," Financial Stability Review, Banque de France, issue 18, pages 195-206, April.
    5. repec:dau:papers:123456789/13289 is not listed on IDEAS
    6. Pamfili Antipa & Rémy Lecat, 2013. "« Bulle immobilière » et politique d'octroi de crédits. Enseignements d'un modèle structurel du marché français de l'immobilier résidentiel," Revue de l'OFCE, Presses de Sciences-Po, vol. 0(2), pages 163-187.
    7. Edward L. Glaeser, 2013. "A Nation Of Gamblers: Real Estate Speculation And American History," NBER Working Papers 18825, National Bureau of Economic Research, Inc.
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