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Financing Constraints, Employment, and Labor Compensation : Evidence from the Subprime Mortgage Crisis
Popov, Alexander A. - 2015
to German savings banks during the US mortgage crisis that are unrelated to local conditions. We find that firms with …
Persistent link: https://www.econbiz.de/10013019626
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Housing Finance and Monetary Policy
Calza, Alessandro; Monacelli, Tommaso; Stracca, Livio - 2021
main facts: first, the features of residential mortgage markets differ markedly across industrialized countries; second … house prices is significantly stronger in those countries with larger flexibility/development of mortgage markets; third …, the transmission to consumption is stronger only in those countries where mortgage equity release is common and mortgage …
Persistent link: https://www.econbiz.de/10013316354
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House Prices and Ultra-Low Interest Rates : Exploring the Non-Linear Nexus
Dieckelmann, Daniel; Hempell, Hannah Sabine; Jarmulska, … - 2023
The acceleration of house price growth amidst falling interest rates to record-low levels across euro area countries between 2015 and 2021 has sparked renewed interest in the link between the two variables. Asset-pricing theory suggests that real house prices respond to changes in real interest...
Persistent link: https://www.econbiz.de/10014257208
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House Prices, Money, Credit and the Macroeconomy
Goodhart, Charles; Hofmann, Boris - 2021
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10013316547
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Monetary Policy, Housing Booms and Financial (Im) Balances
Eickmeier, Sandra - 2015
a strong short-lived effect on risk spreads in the money and mortgage markets; (ii) monetary policy shocks have …
Persistent link: https://www.econbiz.de/10013038915
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Housing, Consumption and Monetary Policy : How Different are the US and the Euro Area?
Musso, Alberto - 2012
real house price, residential investment and mortgage debt on the two sides of the Atlantic. Then, it presents evidence …
Persistent link: https://www.econbiz.de/10013116395
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House Prices, Home Equity and Entrepreneurships
Corradin, Stefano - 2013
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10013082537
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House Prices, Money, Credit and the Macroeconomy.
Goodhart, Charles; Hofmann, Boris - 2008
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10011604934
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Booms and Systemic Banking Crises
Boissay, Frédéric - 2013
The empirical literature on systemic banking crises (SBCs) has shown that SBCs are rare events that break out in the midst of credit intensive booms and bring about particularly deep and long-lasting recessions. We attempt to explain these phenomena within a dynamic general equilibrium model...
Persistent link: https://www.econbiz.de/10013086964
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Booms and Busts in Housing Markets : Determinants and Implications
Agnello, Luca - 2009
term interest rates, local and global money and credit developments, and the incidence of mortgage market deregulation …
Persistent link: https://www.econbiz.de/10013158164