Narrow search
Showing 1 - 10 of 13,462
Cover Image
The Cash-Flow Channel of Monetary Policy : Evidence from Mortgage Borrowers
Song, Sang-yoon - 2019
This paper investigates the relationships between consumption and mortgage interest reduction caused by an expansionary … by mortgage interest reduction help to relax the liquidity constraints they face. These results imply that financial … characteristics of mortgage borrowers can affect the magnitude and persistence of the cash flow channels of an expansionary monetary …
Persistent link: https://www.econbiz.de/10012865778
Cover Image
Mortgage debt and time-varying monetary policy transmission
Finck, David; Schmidt, Jörg; Tillmann, Peter - 2018
We study the role of monetary policy for the dynamics of U.S. mortgage debt, which is the largest component of … household indebtedness. A timevarying parameter VAR model allows us to study the variation in the mortgage debt sensitivity to … quantitatively similar to the VAR results. A sacrifice ratio for mortgage debt reveals that a policy tightening directed towards …
Persistent link: https://www.econbiz.de/10011803783
Cover Image
A survey-based shadow rate and unconventional monetary policy effects
Ichiue, Hibiki; Ueno, Yoichi - 2018
Persistent link: https://www.econbiz.de/10013447650
Cover Image
The cash-flow channel of monetary policy : evidence from mortgage borrowers
Song, Sang-yoon - 2019
Persistent link: https://www.econbiz.de/10012171454
Cover Image
Business cycles, stock returns and the transmission channels of conventional and unconventional monetary policy
DaSilva, Amadeu; Farka, Mira - In: Applied economics letters 31 (2024) 14, pp. 1269-1277
Persistent link: https://www.econbiz.de/10014558823
Cover Image
How quantitative easing works : evidence on the refinancing channel
Di Maggio, Marco; Kermani, Amir; Palmer, Christopher J. - 2016
Persistent link: https://www.econbiz.de/10011553171
Cover Image
The interest rate effects of government bond purchases away from the lower bound
De Rezende, Rafael B. - 2016
I analyze the recent experience of unconventional monetary policy in Sweden to study the interest rate transmission mechanisms of government bond purchases when interest rates are not constrained by a lower bound. Using dynamic term structure models and event study regressions I find that...
Persistent link: https://www.econbiz.de/10011471465
Cover Image
Do term premiums matter? : transmission via exchange rate dynamics
Katagiri, Mitsuru; Takahashi, Koji - 2021
Persistent link: https://www.econbiz.de/10012798223
Cover Image
Household Debt and Monetary Policy : Revealing the Cash-Flow Channel
Flodén, Martin - 2019
We examine the effect of monetary policy on household spending when households are indebted and interest rates on outstanding loans are linked to short-term interest rates. Using administrative data on balance sheets and consumption expenditure of Swedish households, we reveal the cash-flow...
Persistent link: https://www.econbiz.de/10012900523
Cover Image
Household Debt and Monetary Policy : Revealing the Cash-Flow Channel
Flodén, Martin - 2017
We examine the cash-flow channel of monetary policy, i.e. the effect of monetary policy on spending when households hold debt linked to short-term rates such as adjustable rate mortgages (ARMs). Using registry-based data on Swedish households, we estimate substantial heterogeneity in consumption...
Persistent link: https://www.econbiz.de/10012969777