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原文連結
論文資訊
- 類型：已發表論文
- 日期：2022-07-13
摘要
We develop an 智能體-based model of the UK housing market to study the impact of macroprudential policy experiments on key housing market indicators. The heterogeneous nature of this model enables us to assess the effects of such experiments on the housing, rental, and mortgage markets not only in the aggregate, but also at the level of individual households and sub-segments, such as first-time buyers, homeowners, buy-to-let (BTL) investors, and renters. This approach can, therefore, offer a broad picture of the disaggregated effects of financial stability policies. The model is calibrated using a large selection of micro-data, including data from a leading UK real-estate online search engine as well as loan-level regulatory data. With a series of comparative static exercises, we investigate
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