period, nominal investment rates fell, while house prices and household debt ratios rose. I explain these four trends with a … life, increase household debt. Housing is another vehicle for retirement saving, so omitting housing from the model … imbalances and household and government indebtedness in a new light. In particular, low real interest rates may be the new normal …

Household debt rose sharply in the United Kingdom in the decade before the financial crisis. This paper uses household … ability to make future debt repayments. The potential for household indebtedness to lead to large adverse impacts on aggregate …

value or high loan to income ratios. In aggregate, household leverage responds more strongly to supply shocks that change …

In this paper, we first develop a theoretical framework with three types of household: outright homeowners, mortgagors … and renters. We then examine empirically how household debt affects the response of labour supply to shocks to income …, mortgage interest rates and house prices for each type of household. In line with our framework, we find that negative income …

Household debt and house prices in the United Kingdom rose substantially between 1987 and 2006. In this paper we use a … calibrated overlapping generations model of the household sector to examine the extent to which changes in demographics, lower …

This paper shows that lending relationships insulate corporate investment from fluctuations in collateral values. We … sensitivity of corporate investment to changes in real estate collateral values is halved when the relationship between a bank and … directors have personal mortgage relationships with their firm's lender. Our findings support theories where collateral and …

change in expenditure. In contrast, the income change is sizable and similar across both household groups and countries …

particular for collateral that saves more on regulatory capital …

particular for collateral that saves more on regulatory capital …