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Monetary Policy, Housing Booms and Financial (Im) Balances
Eickmeier, Sandra - 2015
monetary transmission via private sector balance sheets, credit risk spreads and asset markets in an integrated setup and to … house price inflation, strong private debt growth and low credit risk spreads. The results suggest that (i) monetary policy … contributed discernibly, but at a late stage to the unsustainable developments in house and credit markets that were observable …
Persistent link: https://www.econbiz.de/10013038915
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Unemployment Risk and Over-Indebtedness
Du Caju, Philip - 2016
We study how unemployment affects the over-indebtedness of households using the new European Household Finance and Consumption Survey (HFCS). First, we assess the role of different labor market statuses (i.e. employed, unemployed, disabled, retired, etc.) and other household characteristics...
Persistent link: https://www.econbiz.de/10012988621
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Capital Regulation in a Macroeconomic Model with Three Layers of Default
Clerc, Laurent - 2015
We develop a dynamic general equilibrium model for the positive and normative analysis of macroprudential policies. Optimizing financial intermediaries allocate their scarce net worth together with funds raised from saving households across two lending activities, mortgage and corporate lending....
Persistent link: https://www.econbiz.de/10013019587
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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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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 … conducted by the lender between October 2006 and January 2007. We find that individuals who tend to utilize their credit limits … fully do not reduce their demand for credit when subject to increases in interest rates as high as 3 percentage points. This …
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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Mortgage Indebtedness and Household Financial Distress
Georgarakos, Dimitris - 2010
Using comparable survey data from twelve European countries from 1994 to 2001 we investigate households' attitudes towards mortgage indebtedness. We find that a given debt burden creates much higher distress in countries with fewer mortgage holders relative to countries where a significant part...
Persistent link: https://www.econbiz.de/10013147952
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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
-level data for household debt from the FRBNY Consumer Credit Panel over the period 1999Q1 to 2012Q4 and employs the Pooled Mean …
Persistent link: https://www.econbiz.de/10013058652
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Household Risk Management and Actual Mortgage Choice in the Euro Area
Ehrmann, Michael - 2014
Mortgages constitute the largest part of household debt. An essential choice when taking out a mortgage is between fixed-interest-rate mortgages (FRMs) and adjustable-interest-rate mortgages (ARMs). However, so far, no comprehensive cross-country study has analyzed what determines household...
Persistent link: https://www.econbiz.de/10013060536