The objective of this paper to investigate the effectiveness of credit easing policy in mitigating the economic fallout from a financial recession using a model that can account for the observed default and leverage dynamics during the financial crisis of 2007. A general equilibrium model is...

In this paper we examine the sensitivity of mortgage arrears for Irish households to changes in mortgage interest rates under a series of plausible monetary policy normalisation scenarios. Using panel data over the period 2004 - 2016 we exploit information on current income and current mortgage...