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Consumption Effects of Mortgage Payment Holidays : Evidence During the COVID-19 Pandemic
Albuquerque, Bruno; Varadi, Alexandra - 2022
We use UK transaction-level data during the Covid-19 pandemic to study whether mortgage payment holidays (PH) can act … as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage … mortgage PH led to higher saving rates for more financially-stable households …
Persistent link: https://www.econbiz.de/10013294802
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Household Consumption Volatility and Poverty Risk : Case Studies from South Africa and Tanzania
Bellon, Matthieu - 2020
Economic volatility remains a fact of life in Sub Saharan Africa (SSA). Household-level shocks create large consumption fluctuations, raising the incidence of poverty. Drawing on micro-level data from South Africa and Tanzania, we examine the vulnerability to shocks across household types (e.g....
Persistent link: https://www.econbiz.de/10012836527
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Housing Price and Household Debt Interactions in Sweden
Turk-Ariss, Rima - 2016
that mortgage lending boosted by expansionary monetary policy is driving up house prices. But theory suggests the value of … incomes and financial assets play a larger role. Policy experiments suggest that a gradual phasing out of mortgage interest …
Persistent link: https://www.econbiz.de/10012996083
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Mortgage Defaults
Hatchondo, Juan Carlos - 2012
life-cycle profile of home ownership, and the mortgage default rate. The average coefficients that measure the agents …
Persistent link: https://www.econbiz.de/10013111389
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Growth Following Investment and Consumption-Driven Current Account Crises
Klemm, Alexander - 2013
Current account deficits imply increasing liabilities to the rest of the world. External sustainability then depends on whether these can be met in the future without defaulting, i.e., normally through trade account surpluses. To run such surpluses without a fall in consumption, capital inflows...
Persistent link: https://www.econbiz.de/10013072602
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Analyzing the Effects of Financial and Housing Wealth on Consumption Using Micro Data
Caceres, Carlos - 2019
This paper analyzes the existence of 'wealth effects' derived from net equity (in the form of housing, financial assets, and total net worth) on consumption. The study uses longitudinal household-level data -- from the Panel Study of Income Dynamics (PSID) -- covering about 7,000-9,000...
Persistent link: https://www.econbiz.de/10012868265
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It's Not All Fiscal : Effects of Income, Fiscal Policy, and Wealth on Private Consumption
Jaramillo, Laura - 2015
We attempt to disentangle income and wealth effects on consumption by disaggregating both the different types of income and wealth. We estimate a consumption function for a panel of quarterly data for 14 advanced economies spanning 1998 to 2012, using an error correction specification. We find a...
Persistent link: https://www.econbiz.de/10013021438
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World Saving
Grigoli, Francesco - 2014
This paper presents new evidence on the behavior of saving in the world, by extending previous empirical research in five dimensions. First, it is based on a very large and recent database, covering 165 countries from 1981 to 2012. Second, it conducts a robustness analysis across different...
Persistent link: https://www.econbiz.de/10013040407
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Food Price Shocks and Household Consumption in Developing Countries : The Role of Fiscal Policy
Meyimdjui, Carine; Combes, Jean-Louis - 2021
This paper studies whether fiscal policy plays a stabilizing role in the context of import food price shocks. More precisely, the paper assesses whether fiscal policy dampens the adverse effect of import food price shocks on household consumption. Based on a panel of 70 low and middle-income...
Persistent link: https://www.econbiz.de/10013243071
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Monetary Policy and Credit Card Spending
Grigoli, Francesco; Sandri, Damiano - 2023
We analyze the impact of monetary policy on consumer spending using credit card data. Because of their high frequency, these data improve identification and allow for a precise characterization of the transmission lags. We find that shocks to short-term interest rates affect spending much more...
Persistent link: https://www.econbiz.de/10014258574