Controlling Household Credit

In: National Institute economic review: journal of the National Institute of Economic and Social Research, Band 125, S. 46-55

Abstract

It is often postulated that the reintroduction of credit controls would be neither effective nor politically possible. Major changes have been implemented over the last eight years both in the way that financial markets work (domestically and internationally) and in the conduct of monetary policy. Controls over either the size of the balance sheets of financial institutions or the terms under which customers can obtain loans would seem to run totally counter to these developments. Does this rule them out completely?