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Who Invests in Home Equity to Exempt Wealth from Bankruptcy?
Corradin, Stefano - 2011
Homestead exemptions to personal bankruptcy allow households to retain their home equity up to a limit determined at the state level. Households that may experience bankruptcy thus have an incentive to bias their portfolios towards home equity. Using US household data from the Survey of Income...
Persistent link: https://www.econbiz.de/10013126001
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Insolvency frameworks and private debt : an empirical investigation
Consolo, Agostino; Malfa, Federica; Pierluigi, Beatrice - 2021
This paper presents new evidence on the importance of insolvency frameworks for private sector debt deleveraging and … for the resolution of non-performing loans (NPL). We construct an aggregate insolvency framework index (IFI), which is …, our results indicate that better insolvency frameworks lead to faster NPL reductions and to lower NPL increases during …
Persistent link: https://www.econbiz.de/10013315395
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Monetary Policy, Housing Booms and Financial (Im) Balances
Eickmeier, Sandra - 2015
This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...
Persistent link: https://www.econbiz.de/10013038915
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Monetary Policy and the Financing of Firms
De Fiore, Fiorella - 2012
How should monetary policy respond to changes in financial conditions? In this paper we consider a simple model where firms are subject to idiosyncratic shocks which may force them to default on their debt. Firms' assets and liabilities are denominated in nominal terms and predetermined when...
Persistent link: https://www.econbiz.de/10013116576
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Monetary policy, housing booms and financial (im)balances
Eickmeier, Sandra; Hofmann, Boris - 2010
This paper uses a factor-augmented vector autoregressive model (FAVAR) estimated on U.S. data in order to analyze monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to explore the role of monetary policy in the three...
Persistent link: https://www.econbiz.de/10011605224
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Subprime Consumer Credit Demand : Evidence From a Lender's Pricing Experiment
Alan, Sule - 2011
We test the interest rate sensitivity of subprime credit card borrowers using a unique panel data set from a UK credit card company. What is novel about our contribution is that we were given details of a randomized interest rate experiment conducted by the lender between October 2006 and...
Persistent link: https://www.econbiz.de/10013130142
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Household Leverage
Corradin, Stefano - 2012
I propose a life-cycle model where a finitely lived risk averse agent finances her housing investment choosing to provide a down payment. After signing the mortgage contract, the agent may strategically default and move into the rental market. Risk neutral lenders efficiently price mortgages...
Persistent link: https://www.econbiz.de/10013104146
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Micro and Macro Data : A Comparison of the Household Finance and Consumption Survey with Financial Accounts in Austria
Andreasch, Michael - 2014
This paper compares the survey results on savings deposits and estimates on total financial assets from the Household Finance and Consumption Survey (HFCS) in Austria with administrative records from the national accounts for the household sector. The micro data newly generated through the HFCS...
Persistent link: https://www.econbiz.de/10013054679
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Has US Household Deleveraging Ended? A Model-Based Estimate of Equilibrium Debt
Albuquerque, Bruno - 2014
The balance sheet adjustment in the household sector was a prominent feature of the Great Recession that is widely believed to have held back the cyclical recovery of the US economy. A key question for the US outlook is therefore whether household deleveraging has ended or whether further...
Persistent link: https://www.econbiz.de/10013058652
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Debt Overhang and Deleveraging in the US Household Sector : Gauging the Impact on Consumption
Albuquerque, Bruno - 2015
Using a novel dataset for the US states, this paper examines whether household debt and the protracted debt deleveraging help explain the dismal performance of US consumption since 2007 in the aftermath of the housing bubble. By separating the concepts of deleveraging and debt overhang -- a flow...
Persistent link: https://www.econbiz.de/10013016939