Return to text 13 See Robert Vermeulen, Edo Schets, Melanie Lohuis, Barbara Kölbl, David-Jan Jansen, and Willem Heeringa  (2018), “An Energy Transition Risk Stress Test for the Financial System of the Netherlands,” Occasional Studies, vol. 16–7 (Amsterdam: De Nederlandsche Bank, October), available a t www.dnb.nl/en/publications/research-publications/occasional-studies/nr-7-2018-an-energy-transition-riskstress-test-for-the-financial-system-of-the-netherlands.
Another risk was that, in light of the problems in mortgage markets and the large inventories of unsold homes, house prices might weaken more than expected, which could further reduce consumers' willingness to spend and increase investors' concerns about mortgage credit.