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Supply Restrictions, Subprime Lending and Regional US House Prices

Anundsen, André K. - 2015

, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan …

Persistent link: https://www.econbiz.de/10013025976

The Great Mortgaging : Housing Finance, Crises, and Business Cycles

Jordà, Òscar - 2015

17 advanced economies since 1870. The new data show that the share of mortgages on banks' balance sheets doubled in the … course of the 20th century, driven by a sharp rise of mortgage lending to households. Household debt to asset ratios have …

Persistent link: https://www.econbiz.de/10013032225

Homeownership and Entrepreneurship : The Role of Mortgage Debt and Commitment

Bracke, Philippe - 2014

We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … housing tenure where homeowners commit to mortgage payments. Our model predicts that, as long as mortgage rates exceed the … rate of interest on liquid wealth: (i) mortgage debt, by amplifying risk aversion, diminishes the likelihood that …

Persistent link: https://www.econbiz.de/10013044547

Low Homeownership in Germany - A Quantitative Exploration

Kaas, Leo - 2018

broad eligibility criteria, high transfer taxes when buying real estate, and no tax deductions for mortgage interest … mortgage interest tax deductions, but it would improve in the absence of social housing, in particular when coupled with …

Persistent link: https://www.econbiz.de/10012929253

GDP Growth, Private Debt and Monetary Policy

Cafiso, Gianluca - 2017

Economic research has considered Private Debt a determinant of GDP growth for years. By keeping this perspective, the objective of this work is to understand how much of the GDP response to a monetary shock is due to the variation of private debt. This is the marginal contribution of private...

Persistent link: https://www.econbiz.de/10012953691

Heterogeneous Government Spending Multipliers in the Era Surrounding the Great Recession

Bernardini, Marco - 2017

We use a novel quarterly dataset of U.S. states to examine the dynamics and determinants of relative government spending multipliers in the decade surrounding the Great Recession. We find average multipliers that are similar to those that have been reported for the decades preceding the crisis,...

Persistent link: https://www.econbiz.de/10012954356

Private Debt and GDP : A Short-Run Perspective

Cafiso, Gianluca - 2021

Mainstream economic research regards private debt as a determinant of GDP growth in the longrun. Levine (2005) surveys in details this branch of literature and explains the channels by which debt fuels growth. In this paper we switch the focus from the long to the short-run and study whether...

Persistent link: https://www.econbiz.de/10013315475

House Prices, Local Demand, and Retail Prices

Stroebel, Johannes - 2015

We use detailed micro data to document a causal response of local retail price to changes in house prices, with elasticities of 15%-20% across housing booms and busts. Notably, these price responses are largest in zip codes with many homeowners, and non-existent in zip codes with mostly renters....

Persistent link: https://www.econbiz.de/10013009877

Sustainability of Product Market Collusion Under Credit Market Imperfections

Marjit, Sugata - 2017

We study the implications of credit constraints for the sustainability of product market collusion in a bank-financed oligopoly in which firms face an imperfect credit market. We consider two situations, without and with credit rationing, i.e., with a binding credit limit. When there is credit...

Persistent link: https://www.econbiz.de/10012963378

Housing Market Dynamics: On the Contribution of Income Shocks and Credit Constraints

Rady, Sven; Ortalo-Magné, François - CESifo - 2001

are heterogeneous with respect to income and preferences, and mortgage lending is restricted by a down-payment requirement …

Persistent link: https://www.econbiz.de/10005766302

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