Pietrzak, Marcin - In: Journal of central banking theory and practice 13 (2024) 2, pp. 153-185
inflation targeting. This way the central bank tries to address excessive household debt. While the merits of such policy have … freely adjust outstanding debt (refinancing) and (ii) dominant mortgage type in the economy (fixed or adjustable rate). I … significantly depends on the ability to adjust debt and on mortgage type. Policy prescriptions based on models not accounting for …