as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage …

multiplier is inversely correlated with r-g. The calculations are based on the estimates of a factor-augmented interacted panel …

We build a factor-augmented interacted panel vector-autoregressive model of the Euro Area (EA) and estimate it with …

We estimate a panel VAR model that captures cross-country, dynamic interlinkages for 10 euro area countries using …

This paper discusses the evolution of the household debt in Australia and finds that while higher-income and higher … depending on the level of household debt. The results corroborate other work that households' response to monetary policy shocks …

Historically high household debt in several economies is calling for a deleveraging, but according to some economists …, this paper finds evidence of a negative relationship between changes of household debt-to-income ratios and saving rates … suggest that the economic cost associated with household deleveraging may be overestimated and motivate a deleveraging via …

deteriorating household balance sheets? This paper examines the question using household data from the United States. It compares … the responsiveness of household consumption to monetary policy shocks in the pre- and post-crisis periods, relating … changes in monetary transmission to changes in household indebtedness and liquidity. The results show that the responsiveness …