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Using Bankruptcy to Reduce Foreclosures : Does Strip-Down of Mortgages Affect the Supply of Mortgage Credit?

Li, Wenli - 2014

We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip-down reduces the principal of underwater residential mortgages to the current market value of the property for homeowners in Chapter 13 bankruptcy. Our identification is...

Persistent link: https://www.econbiz.de/10013054958

Banking Panics and Liquidity in a Monetary Economy

Matsuoka, Tarishi - 2018

This paper studies banks' liquidity provision in the Lagos and Wright model of monetary exchanges. With aggregate …

Persistent link: https://www.econbiz.de/10012930807

Liquidity Shortages and Monetary Policy

Cao, Jin; Illing, Gerhard - 2021

pure illiquidity risk. It is shown that, when bad states are highly unlikely, public provision of liquidity may improve the … an incentive of financial intermediaries to free ride on liquidity in good states, resulting in excessively low liquidity … more liquid investment. In that case, liquidity injection will make the free riding problem even worse. The results show …

Persistent link: https://www.econbiz.de/10013316591

Monetary Policy, Vagabonding Liquidity and Bursting Bubbles in New and Emerging Markets - An Overinvestment View

Schnabl, Gunther; Hoffmann, Andreas - 2021

theories of Hayek, Wicksell and Schumpeter. We argue that ample liquidity supply originating in the large industrialized …

Persistent link: https://www.econbiz.de/10013316825

Channel Systems : Why is There a Positive Spread?

Berentsen, Aleksander - 2010

this result in a dynamic general equilibrium model where market participants have heterogeneous liquidity needs and where …

Persistent link: https://www.econbiz.de/10013135781

Macroeconomic Effects of Government Spending Shocks : New Evidence Using Natural Disaster Relief in Korea

Yang, Weonho - 2012

We investigate the macroeconomic effects of government spending shocks in Korea. We compare results obtained with two alternative approaches: the narrative approach and Structural Vector-Autoregressive model (SVAR). We propose a new methodology for identifying exogenous and unexpected fiscal...

Persistent link: https://www.econbiz.de/10013100013

Overvalued : Swedish Monetary Policy in the 1930s

Rathke, Alexander - 2013

This paper reconsiders the role of monetary policy in Sweden's strong recovery from the Great Depression. The Riksbank in the 1930s is sometimes seen as an example of a central bank that was relatively innovative in terms of the conduct of monetary policy. To consider this analytically, we...

Persistent link: https://www.econbiz.de/10013091832

Macroeconomic Effects of Unconventional Monetary Policy in the Euro Area

Peersman, Gert - 2013

-run liquidity effect after an interest rate innovation, that is additional bank loans are generated by a greater credit multiplier …

Persistent link: https://www.econbiz.de/10013092365

Real Effects of Quantitative Easing at the Zero-Lower Bound : Structural VAR-Based Evidence from Japan

Schenkelberg, Heike - 2013

Using post-1995 Japanese data we propose a theory-based sign-restriction SVAR approach to identify monetary policy shocks when the economy is at the zero-lower bound. The identifying restrictions accord with predictions of corresponding DSGE models. Our results show that while a quantitative...

Persistent link: https://www.econbiz.de/10013092811

House Prices and Macroprudential Policy in an Estimated DSGE Model of New Zealand

Funke, Michael - 2017

We analyse the effects of macroprudential and monetary policies and their interactions using an estimated dynamic stochastic general equilibrium (DSGE) model tailored to New Zealand. We find that the main historical drivers of house prices are shocks specific to the housing sector. While our...

Persistent link: https://www.econbiz.de/10012953951

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