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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - London School of Economics (LSE) - 2013
Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed debt levels and payment to income ratios suggest the...
Persistent link: https://www.econbiz.de/10011126379
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - Federal Reserve Bank of St. Louis - 2013
Mortgage loans are a striking example of a persistent nominal rigidity. As a result, under incomplete markets, monetary policy affects decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. Observed debt levels and payment to income ratios suggest the...
Persistent link: https://www.econbiz.de/10011027315
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy …, have larger real effects than transitory shocks. The transmission is stronger under adjustable- than fixed-rate mortgages …
Persistent link: https://www.econbiz.de/10011381008
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MoNK: mortgages in a New-Keynesian model
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2019
Persistent link: https://www.econbiz.de/10012138881
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
Persistent link: https://www.econbiz.de/10011392896
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy …, have larger real effects than transitory shocks. The transmission is stronger under adjustable- than fixed-rate mortgages …
Persistent link: https://www.econbiz.de/10011306278
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MoNK : mortgages in a New-Keynesian model
Carriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2019 - This draft: October 24, 2019
Persistent link: https://www.econbiz.de/10012172747
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2013
Persistent link: https://www.econbiz.de/10010226701
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Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2013
Persistent link: https://www.econbiz.de/10010230069