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We show that a contraction of mortgage supply after the Great Recession has increased housing rents. Our empirical strategy exploits heterogeneity in MSAs' exposure to regulatory shocks experienced by lenders over the 2010-2014 period. Tighter lending standards have increased demand for rental...
Persistent link: https://www.econbiz.de/10015258360
The stance of Australia’s central authorities with respect to residential mortgage innovation appears different from many of our international counterparts. In this article we provide an interpretation of this policy stance, concluding that signals are arguably a more prominent feature of...
Persistent link: https://www.econbiz.de/10015246570
On November 8, 2016, the Indian government abruptly demonetized 86% of its currency in circulation in an attempt to reduce black money, corruption, and counterfeiting. Yet, 99% of the currency was eventually returned to banks. We exploit large regional variations in deposit growth as a result of...
Persistent link: https://www.econbiz.de/10015265002
This paper identifies the sources of economic policy uncertainty in Nigeria and draw implications for Africa. The paper finds that economic policy uncertainty in Nigeria has many sources which are interlinked such as: unexpected and sudden central bank intervention; change in government policy...
Persistent link: https://www.econbiz.de/10015267370
In the context of SARS-CoV-2 crises, the phenomenological studies analyze the market phenomenon of People’s Republic of China (PRC) in public health. With PRC’s diplomatic behaviors around the national, international, and global public health crises, the phenomenological occurrence was...
Persistent link: https://www.econbiz.de/10015269192
This note shows that the Italian Mini BOTs proposed in 2019 bore the potential neither to become Italian legal tender nor to practically increase Italian government debt, but to practically cause a mere reduction in taxation and thence in government spending or transfers. Since the Eurozone...
Persistent link: https://www.econbiz.de/10015269217
In the context of SARS-CoV-2 crises, the phenomenological studies analyze the market phenomenon of People’s Republic of China (PRC) in public health. With PRC’s diplomatic behaviors around the national, international, and global public health crises, the phenomenological occurrence was...
Persistent link: https://www.econbiz.de/10015269414
This paper investigates the concept of vector autoregression (VAR) and cointegration using a bivariate model of global oil prices and headline Consumer Price Index (CPI) in South Africa. The study aims to determine how much of inflation is driven by oil prices. Particular attention is paid to...
Persistent link: https://www.econbiz.de/10015238725
This paper is looking into the causes of the GDP decline in Russia during 2008-2009 and the slow-down of the GDP growth during 2012-2013. The impact of the money supply on the GDP is discussed. Analogies are drawn with the crises in the USA: the Great Depression during 1929-1933 and the...
Persistent link: https://www.econbiz.de/10015241330
This paper investigates the possibility of conducting an unconventional monetary policy of Quantitative easing (QE) at high interest rates using the example and experience of Russia. The Central Bank of the Russian Federation has raised the key interest rate on three occasions during the 7...
Persistent link: https://www.econbiz.de/10015243826