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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

Monetary policy shocks in the euro area and global liquidity spillovers

Sousa, João; Zaghini, Andrea - 2004

including a global liquidity aggregate. The impulse responses obtained show that a positive shock to extra-euro area liquidity …

Persistent link: https://www.econbiz.de/10009636532

What are the spill-overs from fiscal shocks in Europe?

Giuliodori, Massimo; Beetsma, Roel - 2004

We use a Vector Auto Regression (VAR) analysis to explore the (spill-over) effects of fiscal policy shocks in Europe. To enhance comparability with the existing literature, we first analyse the effects of these shocks at the national level. Here, we employ identification based on Choleski...

Persistent link: https://www.econbiz.de/10009636548