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Addressing household indebtedness : monetary, fiscal or macroprudential policy?
Alpanda, Sami; Zubairy, Sarah - 2014
In this paper, we build a dynamic stochastic general-equilibrium model with housing and household debt, and compare the effectiveness of monetary policy, housing-related fiscal policy, and macroprudential regulations in reducing household indebtedness. The model features long-term fixed-rate...
Persistent link: https://www.econbiz.de/10010457935
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A policy model to analyze macroprudential regulations and monetary policy
Alpanda, Sami; Cateau, Gino; Meh, Césaire Assah - 2014
We construct a small-open-economy, New Keynesian dynamic stochastic generalequilibrium model with real …-financial linkages to analyze the effects of financial shocks and macroprudential policies on the Canadian economy. Our model has four … transmission of monetary policy and financial shocks in the model economy, and analyze the effectiveness of various policies in …
Persistent link: https://www.econbiz.de/10010238951
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Housing and tax policy
Alpanda, Sami; Zubairy, Sarah - 2013
In this paper, we investigate the effects of housing-related tax policy measures on macroeconomic aggregates using a dynamic general-equilibrium model. The model features borrowing and lending across heterogeneous households, financial frictions in the form of collateral constraints tied to...
Persistent link: https://www.econbiz.de/10009789532
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International portfolio rebalancing and fiscal policy spillovers
Alpanda, Sami; Aysun, Uluc; Kabaca, Serdar - 2023 - Last updated: November 1, 2023
economy given the depreciation in the ROW currency. The fall in ROW output occurs mainly due to the increase in the ROW term …
Persistent link: https://www.econbiz.de/10014456720
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Should monetary policy lean against housing market booms?
Alpanda, Sami; Ueberfeldt, Alexander - 2016
binding zero lower bound on the policy rate, imposing large costs on the economy. Using our set-up, we examine the optimal … probability reduces volatility in the economy, this is achieved by lowering the average level of debt, which severely hurts …
Persistent link: https://www.econbiz.de/10011454083
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International spillovers of large-scale asset purchases
Alpanda, Sami; Kabaca, Serdar - 2015
This paper evaluates the international spillover effects of large-scale asset purchases (LSAPs) using a two-country dynamic stochastic general-equilibrium model with nominal and real rigidities, and portfolio balance effects. Portfolio balance effects arise from imperfect substitution between...
Persistent link: https://www.econbiz.de/10010468314