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than less. Suppose that a household plans to finance a given housing purchase through a preferred future mortgage path. If … that mortgage path violates a new amortization requirement, the household can still achieve its preferred mortgage path … the mortgage rate, because then the excess borrowing is costless. But even if the savings interest rate is less than the …
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levels of outstanding mortgage debt (Dynan, 2012) - seems to be taken for granted by macroprudential authorities in several …
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Let me start from standard flexible inflation targeting, according to which monetary policy aims at stabilizing inflation around an announced inflation target and resource utilization around a long-run sustainable rate. Furthermore, let me for concreteness assume that the unemployment rate is a...
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levels of outstanding mortgage debt (Dynan, 2012) - seems to be taken for granted by macroprudential authorities in several …
Persistent link: https://www.econbiz.de/10012533355