Includes bibliographical references  (p. 35-39

​Acknowledgments-- Glossary -- Executive Summary -- 1. Introduction -- 2. Literature Review -- 3. Macroprudential Measures Implemented in Europe in Recent Years -- 4. Country Experiences and Effectiveness of MaPPs -- 5. Circumvention -- 6. Macroprudential Policies and Housing Sector Policies -- 7. Balancing Financial Stability and Housing Affordability -- 8. Conclusion -- References.

Macroprudential policy in Europe aligns with the objective of limiting systemic risk, namely the risk of widespread disruption to the provision of financial services that is caused by an impairment of all or parts of the financial system and that can cause serious negative consequences for the real economy. (IMF page)