decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth … housing sector in times of high LTV ratios, which, through changes in mortgage lending and mortgage equity withdrawals (MEWs …), translate into larger effects of consumption. This result is more pronounced for contractionary shocks, in line with …

This paper explores the importance of housing and mortgage market heterogeneity in 13 European countries for the …

real house price, residential investment and mortgage debt on the two sides of the Atlantic. Then, it presents evidence …

real house price, residential investment and mortgage debt on the two sides of the Atlantic. Then, it presents evidence …

sides of the Atlantic, such as real house prices, residential investment and mortgage debt. It then presents evidence from …

to account for anticipation effects on consumption. We investigate this using high-frequency spending and balance sheet … bank sends a letter before the annual reset containing advance information on the expected change in mortgage payments. We … with a standard buffer-stock consumption model, and implies that it is less effective to target stimulus to low liquidity …

This paper assesses how the degree of the mortgage market flexibility alters the effect of a residential house price … credit and GDP response to a house price shock in countries with a more flexible mortgage market …

This paper explores the importance of housing and mortgage market heterogeneity in 12 European countries for the …