Showing 1 - 10 of 19
Persistent link: https://www.econbiz.de/10010507820
Persistent link: https://www.econbiz.de/10011734570
Persistent link: https://www.econbiz.de/10012106631
Persistent link: https://www.econbiz.de/10009756909
Persistent link: https://www.econbiz.de/10009576266
Persistent link: https://www.econbiz.de/10009577632
Progress on the question of whether policymakers should respond directly to financial variables requires a realistic economic model that captures the links between asset prices, credit expansion, and real economic activity. Standard DSGE models with fully-rational expectations have difficulty...
Persistent link: https://www.econbiz.de/10013007544
We study the interaction between monetary policy and household debt dynamics. To this end, we develop a dynamic stochastic general equilibrium model where household debt is amortized gradually, and only new loans are constrained by the current value of collateral. Long-term debt implies that...
Persistent link: https://www.econbiz.de/10013023288
We study the implications of multi-period mortgage loans for monetary policy, considering several realistic modifications — fixed interest rate contracts, lower bound constraint on newly granted loans, and possibility for the collateral constraint to become slack — to an otherwise standard...
Persistent link: https://www.econbiz.de/10012898517
Persistent link: https://www.econbiz.de/10010365595