This is precisely the kind of counter-cyclical macroprudential policy that economists often recommend. But, whereas advanced economies rarely implement this advice, China and many other developing countries do tend to adjust regulation, including reserve requirements for banks and ceilings on homebuyers’ borrowing, counter-cyclically.
这正是经济学家经常建议的反周期宏观审慎政策。但是，发达经济体很少实施这一建议，而中国和其他许多发展中国家确实常常反周期地调整监管措施，包括银行准备金要求和限制住房抵押贷款。