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Specialized Financial Intermediaries and the Impact of Savings and Loan Contracts on Real Estate Finance
Molterer, Manuel; Amon, Julian; Tyrell, Marcel - In: Credit and Capital Markets – Kredit und Kapital 56 (2023) 2, pp. 145-195
/2008 financial crisis, which was triggered by the collapse of the U.S. subprime mortgage market. This research is particularly …
Persistent link: https://www.econbiz.de/10014556427
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The effects of the saving and banking glut on the U.S. economy
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013
We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...
Persistent link: https://www.econbiz.de/10010352184
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House Prices, Money, Credit and the Macroeconomy.
Goodhart, Charles; Hofmann, Boris - 2008
This paper assesses the linkages between money, credit, house prices and economic activity in industrialised countries over the last three decades. The analysis is based on a fixed-effects panel VAR estimated using quarterly data for 17 industrialized countries spanning the period 1970-2006. The...
Persistent link: https://www.econbiz.de/10011604934
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Consumption, housing collateral, and the Canadian business cycle
Christensen, Ian; Corrigan, Paul; Mendicino, Caterina; … - 2009
Using Bayesian methods, we estimate a small open economy model in which consumers face limits to credit determined by the value of their housing stock. The purpose of this paper is to quantify the role of collateralized household debt in the Canadian business cycle. Our findings show that the...
Persistent link: https://www.econbiz.de/10010279917
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Housing Finance in the Euro Area
Drudi, Francesco; Köhler-Ulbrich, Petra; Protopapa, Marco - 2009
1999 to 2007. It looks at mortgage indebtedness, various characteristics of loans for house purchase, the funding of such …
Persistent link: https://www.econbiz.de/10011606253
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Cross-sectional patterns of mortgage debt during the housing boom: Evidence and implications
Foote, Christopher L.; Loewenstein, Lara; Willen, Paul S. - 2016
The reallocation of mortgage debt to low-income or marginally qualified borrowers plays a central role in many … explanations of the early 2000s housing boom. We show that such a reallocation never occurred, as the distribution of mortgage debt … with respect to income changed little even as the aggregate stock of debt grew rapidly. Moreover, because mortgage debt …
Persistent link: https://www.econbiz.de/10011754809
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Banks' financial distress, lending supply and consumption expenditure
Damar, H. Evren; Gropp, Reint E.; Mordel, Adi - 2014
households whose banks were more exposed to funding shocks report lower levels of non-mortgage liabilities. This, however, does …
Persistent link: https://www.econbiz.de/10011605732
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Banks' funding stress, lending supply and consumption expenditure
Damar, H. Evren; Gropp, Reint E.; Mordel, Adi - 2019
We employ a unique identification strategy linking survey data on household consumption expenditure to bank-level data to estimate the effects of bank funding stress on consumer credit and consumption expenditures. We show that households whose banks were more exposed to funding shocks report...
Persistent link: https://www.econbiz.de/10012014570
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Banks' financial distress, lending supply and consumption expenditure
Damar, H. Evren; Gropp, Reint E.; Mordel, Adi - 2014
households whose banks were more exposed to funding shocks report lower levels of non-mortgage liabilities. This, however, does …
Persistent link: https://www.econbiz.de/10012064263
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Monetary policy, housing booms and financial (im)balances
Eickmeier, Sandra; Hofmann, Boris - 2010
a strong short-lived effect on risk spreads in the money and mortgage markets; (ii) monetary policy shocks have …
Persistent link: https://www.econbiz.de/10011605224