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Essays on the dynamic effects of monetary and fiscal policy
Kanaginis, George T. - 1991
Persistent link: https://www.econbiz.de/10000883339
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Puzzling comovements between output and interest rates? : Multiple shocks are the answer
Mertens, Elmar - 2006
Persistent link: https://www.econbiz.de/10003305738
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Lumpy investment, business cycles, and stimulus policy
Winberry, Thomas - In: American economic review 111 (2021) 1, pp. 364-396
Persistent link: https://www.econbiz.de/10012415189
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Monetary policy, housing, and collateral constraints
Franz, Thorsten - 2019
House-purchasing decisions and the possibility of existing homeowners to tap into their housing equity depend decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth transition local projection (STLP) approach, I show that...
Persistent link: https://www.econbiz.de/10011963152
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Financial frictions : micro vs. macro volatility
Faccini, Renato; Lee, Seungcheol; Luetticke, Ralph; … - 2024
Consumer credit spreads significantly impact consumption and asset dynamics, affecting indebted households' spending behavior and the income sensitivity of consumption. Analyzing Danish data, we find that elevated credit spreads reduce consumption of indebted households. Our results suggest that...
Persistent link: https://www.econbiz.de/10014480275
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How should central banks react to household inflation heterogeneity?
Neyer, Ulrike; Stempel, Daniel - 2022
of the households' consumer price inflation rates or their individual rates, respectively. After a negative demand shock … less under that regime. After a negative supply shock, a central bank only considering the household experiencing the … higher inflation rate mitigates the immediate effects of the shock on both consumer price inflation rates more effectively …
Persistent link: https://www.econbiz.de/10012803661
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Monetary Policy and Household Deleveraging
Harding, Martin - 2019
policy. Using data on the U.S. economy, we find that a contractionary monetary policy shock leads to a large and significant …
Persistent link: https://www.econbiz.de/10012866924
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Perceived versus calibrated income risks in heterogeneous-agent consumption models
Wang, Tao - 2023 - Last updated: December 27, 2023
Models of microeconomic consumption (including those used in heterogeneous-agent macroeconomic models) typically calibrate the size of income risk to match panel data on household income dynamics. But, for several reasons, what is measured as risk from such data may not correspond to the risk...
Persistent link: https://www.econbiz.de/10014456727
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Asset pricing with countercyclical household consumption risk
Kōnstantinidēs, Giōrgos; Ghosh, Anisha - 2014
Persistent link: https://www.econbiz.de/10010360490
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Sources of inequality and business cycles : evidence from the US and Japan
Inaba, Masaru; Nutahara, Kengo; Shirai, Daichi - 2023
Persistent link: https://www.econbiz.de/10014338073