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Household financial distress and the burden of "aggregate" shocks
Athreya, Kartik B.; Mather, Ryan; Mustre-del-Río, José; … - 2020
The goal of this paper is to show that household-level financial distress (FD) varies greatly, meaning there is unequal … facts: (i) regions in the U.S. vary significantly in their "FD-intensity," measured either by how much additional credit …
Persistent link: https://www.econbiz.de/10012391177
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Household financial distress and the burden of "aggregate" shocks
Athreya, Kartik B.; Mather, Ryan; Mustre-del-Río, José; … - 2020
Persistent link: https://www.econbiz.de/10012499002
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Heterogeneity in individual expectations, sentiment, and constant-gain learning
Cole, Stephen J.; Milani, Fabio - 2020
The adaptive learning approach has been fruitfully employed to model the formation of aggregate expectations at the macroeconomic level, as an alternative to rational expectations. This paper uses adaptive learning to understand, instead, the formation of expectations at the micro-level, by...
Persistent link: https://www.econbiz.de/10012226634
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Pass-Through of Cost-Push Shocks
Gödl-Hanisch, Isabel; Menkhoff, Manuel - 2023
This paper examines the pass-through of cost-push shocks to customers at a granular level. Using unique firm-level survey data, we document five facts about pass-through across firms, sectors, and over time. We highlight a new channel relevant for pass-through: beliefs about the expected...
Persistent link: https://www.econbiz.de/10014347021
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Pass-through of cost-push shocks
Gödl-Hanisch, Isabel; Menkhoff, Manuel - 2023
This paper examines the pass-through of cost-push shocks to customers at a granular level. Using unique firm-level survey data, we document five facts about pass-through across firms, sectors, and over time. We highlight a new channel relevant for pass-through: beliefs about the expected...
Persistent link: https://www.econbiz.de/10014306740
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Towards a new paradigm : the inflation shock as a catalyst?
Creel, Jérôme; Geerolf, François; Levasseur, Sandrine; … - 2024
During the recent inflation episode, the paradigm of separated objectives for monetary and fiscal policies has shown some limits. Fiscal policies have helped mitigate inflation. We advocate for the emergence of a new paradigm that gives equal consideration to fiscal and monetary policies and...
Persistent link: https://www.econbiz.de/10014502431
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Tighter credit and consumer bankruptcy insurance
Antunes, António R.; Cavalcanti, Tiago; Mendicino, Caterina - 2021
creditworthiness effects of bankruptcy in response to tighter credit. We show that bankruptcy dampens the effect of tighter credit on … aggregate consumption on impact because it allows borrowers to sustain consumption, but statutory exclusion from the credit … the negative welfare effects of the subsequent credit tightening. …
Persistent link: https://www.econbiz.de/10013330698
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The Causes of Household Bankruptcy : The Interaction of Income Shocks and Balance Sheets
Mikhed, Vyacheslav - 2016
We examine how household balance sheets and income statements interact to affect bankruptcy decisions following an … varied exogenously based on family size. Receiving a larger income shock from the payment (relative to household income …
Persistent link: https://www.econbiz.de/10012986563
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Household Financial Distress and the Burden of 'Aggregate' Shocks
Athreya, Kartik; Mather, Ryan; Mustre-del-Rio, Jose; … - 2020
The goal of this paper is to show that household-level financial distress (FD) varies greatly, meaning there is unequal … facts: (i) regions in the U.S. vary significantly in their "FD-intensity," measured either by how much additional credit …
Persistent link: https://www.econbiz.de/10014048741
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Business Cycle Effects of Credit Shocks in a DSGE Model with Firm Defaults
Pesaran, M. Hashem - 2016
This paper proposes a new theoretical framework for the analysis of the relationship between credit shocks, firm …. The model is then used to study the impact of credit shocks on business cycle dynamics. It is assumed that firms are … and the level of uncertainty in the economy. A positive credit shock, defined as a rise in the loan-to-deposit ratio …
Persistent link: https://www.econbiz.de/10012994637