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Borrowing in Foreign Currency: Austrian Households as Carry Traders
Ongena, Steven; Beer, Christian; Peter, Marcel - Schweizerische Nationalbank (SNB) - 2008
Household borrowing in a foreign currency is a widespread phenomenon in Austria. Twelve percent of Austrian households report their housing loan to be denominated in either Swiss franc or Japanese yen for example. Yet, despite its importance, peculiar character, and immediate policy concerns, we...
Persistent link: https://www.econbiz.de/10005091296
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Borrowing in Foreign Currency: Austrian Households as Carry Traders
Ongena, Steven; Beer, Christian; Peter, Marcel - Schweizerische Nationalbank (SNB) - 2008
Household borrowing in a foreign currency is a widespread phenomenon in Austria. Twelve percent of Austrian households report their housing loan to be denominated in either Swiss franc or Japanese yen for example. Yet, despite its importance, peculiar character, and immediate policy concerns, we...
Persistent link: https://www.econbiz.de/10008925052
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Mortgage Rate Pass-Through in Switzerland
Cecchin, Iva - Schweizerische Nationalbank (SNB) - 2011
passthrough of rates of adjustable-rate mortgages is incomplete and sluggish compared to the rates of mortgages with a fixed … of 2007 for fixed-rate mortgages and in mid-2005 for floating-rate mortgages. For all mortgage rates, asymmetries are …-rate mortgages exhibit upward price stickiness. This result suggests that competition was stronger in this specific mortgage …
Persistent link: https://www.econbiz.de/10009023977
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Housing Bubbles and Interest Rates
Hott, Christian; Jokipii, Terhi - Schweizerische Nationalbank (SNB) - 2012
In this paper we assess whether persistently too low interest rates can cause housing bubbles. For a sample of 14 OECD countries, we calculate the deviations of house prices from their (theoretically implied) fundamental value and define them as bubbles. We then estimate the impact that a...
Persistent link: https://www.econbiz.de/10010556243
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Banking Sector Reform and Interest Rates in Transition Economies: Bank-Level Evidence from Kyrgyzstan
Brown, Martin; Rueda Maurer, Maria; Pak, Tamara; … - Schweizerische Nationalbank (SNB) - 2007
We examine the impact of banking sector reforms on interest rates using bank-level data from Kyrgyzstan for 1998-2005. We find that increased confidence in the banking sector has contributed significantly to lowering interest rate levels, while the impact of lower intermediation costs, credit...
Persistent link: https://www.econbiz.de/10005091299
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Banking Sector Reform and Interest Rates in Transition Economies: Bank-Level Evidence from Kyrgyzstan
Brown, Martin; Maurer, Maria Rueda; Pak, Tamara; … - Schweizerische Nationalbank (SNB) - 2007
We examine the impact of banking sector reforms on interest rates using bank-level data from Kyrgyzstan for 1998-2005. We find that increased confidence in the banking sector has contributed significantly to lowering interest rate levels, while the impact of lower intermediation costs, credit...
Persistent link: https://www.econbiz.de/10008925033