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Attenuation bias, recall error and the housing wealth effect

McCarthy, Yvonne; McQuinn, Kieran - Central Bank of Ireland - 2014

The greater use of microeconomic and survey based data in addressing key financial stability related questions is a natural outcome of the recent financial crisis. Amongst other benefits, the use of such data enables a more precise understanding of the differing attitudes and responses of...

Persistent link: https://www.econbiz.de/10010877219

Price expectations, distressed mortgage markets and the housing wealth effect

McCarthy, Yvonne; McQuinn, Kieran - Central Bank of Ireland - 2013

The life-cycle theory of consumption draws a well-established distinction between the implications for consumption of …' price expectations are influencial in determining the consumption repsonse to shocks. …

Persistent link: https://www.econbiz.de/10010739939

Deleveraging in a highly indebted property market: Who does it and are there implications for household consumption?

McCarthy, Yvonne; McQuinn, Kieran - Central Bank of Ireland - 2014

decision to deleverage has negative implications for household consumption. …

Persistent link: https://www.econbiz.de/10010782112

Automation with heterogeneous agents : the effect on consumption inequality

Santini, Tommaso - Leibniz-Institut für Wirtschaftsforschung Halle - 2022 - This version: November 3, 2022

In this paper, I study technological change as a candidate for the observed increase in consumption inequality in the … consumption inequality between 1981 and 2008 in the US (ii) educational choice and the return to wealth are quantitatively … important in explaining the increase in consumption inequality. …

Persistent link: https://www.econbiz.de/10013460248

Is there an information channel of monetary policy?

Holtemöller, Oliver; Kriwoluzky, Alexander; Kwak, Boreum - Leibniz-Institut für Wirtschaftsforschung Halle - 2024 - This version: May 17, 2024

Exploiting the heteroscedasticity of the changes in short-term and long-term interest rates and exchange rates around the FOMC announcement, we identify three structural monetary policy shocks. We eliminate the predictable part of the shocks and study their effects on financial variables and...

Persistent link: https://www.econbiz.de/10014535937

Technology adoption and the bank lending channel of monetary policy transmission

Hasan, Iftekhar; Li, Xiang - Leibniz-Institut für Wirtschaftsforschung Halle - 2021

This paper studies whether and how banks‘ technology adoption affects the bank lending channel of monetary policy transmission. We construct a new measurement of bank-level technology adoption, which can tell whether the technology is related to the bank‘s lending business and which specific...

Persistent link: https://www.econbiz.de/10012695677

Active driver or passive victim : on the role of international monetary policy transmission

Camehl, Annika; Schweinitz, Gregor von - Leibniz-Institut für Wirtschaftsforschung Halle - 2023

We provide new insights into determinants of international interest rates spillovers across seven advanced economies. To disentangle and quantify their respective importance, we identify country-specific structural monetary policy, demand, and supply equations in a Bayesian structural panel...

Persistent link: https://www.econbiz.de/10014025780

BigTech credit and monetary policy transmission : micro-level evidence from China

Huang, Yiping; Li, Xiang; Qiu, Han; Yu, Changhua - Leibniz-Institut für Wirtschaftsforschung Halle - 2022

This paper studies monetary policy transmission through BigTech and traditional banks. By comparing business loans made by a BigTech bank with those made by traditional banks, it finds that BigTech loans tend to be smaller, and the BigTech bank grants credit to more new borrowers compared with...

Persistent link: https://www.econbiz.de/10013336395

Technological innovation and the bank lending channel of monetary policy transmission

Hasan, Iftekhar; Li, Xiang; Takalo, Tuomas - Leibniz-Institut für Wirtschaftsforschung Halle - 2023 - This version: 23.11.2023

This paper studies whether and how banks’ technological innovations affect the bank lending channel of monetary policy transmission. We first provide a theoretical model in which banks' technological innovation relaxes firms’ earning-based borrowing constraints and thereby enlarges the...

Persistent link: https://www.econbiz.de/10014429944

BigTech credit, small business, and monetary policy transmission : theory and evidence

Huang, Yiping; Li, Xiang; Qiu, Han; Su, Dan; Yu, Changhua - Leibniz-Institut für Wirtschaftsforschung Halle - 2024 - This version: 22.04.2024

This paper provides both theoretical and empirical analyses of the differences between BigTech lenders and traditional banks in response to monetary policy changes. Our model integrates Knightian uncertainty into portfolio selection and posits that BigTech lenders possess a diminishing...

Persistent link: https://www.econbiz.de/10014517651