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Mortgage Market Flexibility and the Transmission of House Price Shocks : A Multi-Country Study

Reusens, Peter - 2015

shock on household credit and GDP. We estimate a panel vector autoregression model for a sample of 16 OECD countries for the … period 1985Q1-2012Q4 and we identify a house price shock as an increase in the innovation term of house prices unrelated to … credit and GDP response to a house price shock in countries with a more flexible mortgage market …

Persistent link: https://www.econbiz.de/10013012915

How Do Exogenous Shocks Cause Bankruptcy? Balance Sheet and Income Statement Channels

Mikhed, Vyacheslav - 2014

We are the first to examine whether exogenous shocks cause personal bankruptcy through the balance sheet channel and/or the income statement channel. For identification, we examine the effect of exogenous, politically motivated government payments on 200,000 Canadian bankruptcy filings. We find...

Persistent link: https://www.econbiz.de/10013053354

Housing market dynamics and macroprudential policy

Bruneau, Gabriel; Christensen, Ian; Meh, Césaire Assah - 2016

We perform an analysis to determine how well the introduction of a countercyclical loanto- value (LTV) ratio can reduce household indebtedness and housing price fluctuations compared with a monetary policy rule augmented with house price inflation. To this end, we construct a New Keynesian model...

Persistent link: https://www.econbiz.de/10011517031