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We decompose aggregate consumption by modelling both savers and their links to collateral constrained borrowers through a bank which prices credit risk. Savers own both firms and the commercial bank while borrowers require loans from the commercial bank to effect their consumption plans. The...
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behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher …
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On December 16th of 2015, the Fed initiated "liftoff," raising the federal funds rate range by 25 basis points and ending a 7-year regime of near-zero rates. We use a unique dataset of 640,000 loan-hour observations to measure the impact of liftoff on interest rates in the peer-to-peer lending...
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The Bank for International Settlements (BIS) and the Monetary Authority of Singapore (MAS) jointly organised a workshop on property markets and financial stability in Singapore on 5 September 2011. The workshop aimed to bring together academics and researchers at central banks, regulatory...
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policy. We look for this special role by examining the business strategies of banks as it relates to mortgage funding and … mortgage lending. "Traditional banks" have a large supply of excess core deposits and specialize in information …-intensive lending to borrowers (which is proxied here using mortgage lending in subprime communities), whereas "market-based banks" are …
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