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A semi-structural credit gap for Malta : a multivariate filter approach
Gatt, William - 2024
household and firm sectors, yielding a better picture of the drivers of the financial cycle, thereby guiding policy on the …
Persistent link: https://www.econbiz.de/10014633582
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Consumption in the Great Recession : the financial distress channel
Athreya, Kartik B.; Mather, Ryan; Mustre-del-Río, José; … - 2019
. We uncover two essential facts: (1) the decline in house prices led to an increase in household financial distress prior …
Persistent link: https://www.econbiz.de/10012137091
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MEDSEA-FIN : a DSGE model of the Maltese economy with housing and financial frictions
Gatt, William; Rapa, Noel; Brugnolini, Luca - 2020
We extend the Central Bank of Malta's core DSGE model - MEDSEA - with housing and financial frictions to capture the important theoretical links betweeen house prices, credit and consumption. The model features a rich set of features that are inherent to small open economies in a monetary union....
Persistent link: https://www.econbiz.de/10012219003
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External shocks and FX intervention policy in emerging economies
Carrasco, Alex; Florián Hoyle, David - 2021
This paper discusses the role of sterilized foreign exchange (FX) interventions as a monetary policy instrument for emerging market economies in response to external shocks. We develop a model for a commodity-exporting small open economy in which FX intervention is considered as a balance sheet...
Persistent link: https://www.econbiz.de/10012616248
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Unconventional monetary policy, leverage & default dynamics
Palombo, Edoardo - 2020
The objective of this paper to investigate the effectiveness of credit easing policy in mitigating the economic fallout from a financial recession using a model that can account for the observed default and leverage dynamics during the financial crisis of 2007. A general equilibrium model is...
Persistent link: https://www.econbiz.de/10012243296
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US financial shocks and the distribution of income and consumption in the UK
Mumtaz, Haroon; Theodoridis, Konstantinos - 2018
of these distributions. An estimated multiple agent DSGE model suggests that the heterogeneity in the household responses …
Persistent link: https://www.econbiz.de/10011787854
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Consumer bankruptcy, mortgage default and labour supply
Li, Wenli; Meghir, Costas; Oswald, Florian - 2022
individuals may file for bankruptcy or default on their mortgage. Uncertainty in the model is driven by house price shocks …
Persistent link: https://www.econbiz.de/10013167646
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Financialisation of the Maltese household? : household debt dynamics, the mortgage market, and housing in Malta
Cassar, Dylan - 2023
This paper provides a comprehensive assessment of household debt dynamics in Malta between 2010 and 2020. Drawing on … the Household Finance and Consumption Survey, it argues that a process of financialisation of the household is underway on … the Maltese islands, primarily via the mortgage market. This process is characterised by (i) financial extension, in which …
Persistent link: https://www.econbiz.de/10014427487
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
can affect household decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt …
Persistent link: https://www.econbiz.de/10011306278
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The persistence of financial distress
Athreya, Kartik B.; Mustre-del-Río, José; Sanchez, Juan M. - 2017
Using recently available proprietary panel data, we show that while many (35%) US consumers experience financial distress at some point in the life cycle, most of the events of financial distress are primarily concentrated in a much smaller proportion of consumers in persistent trouble. Roughly...
Persistent link: https://www.econbiz.de/10011782663