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Mortgage Spreads, House Prices, and Business Cycles in Emerging Countries

Horvath, Jaroslav - 2019

We investigate an unexplored link between the US mortgage spread and business cycle and house price fluctuations in … emerging market economies (EMEs). An increase in the US mortgage spread leads to substantially lower output, investment … financial channel is the main transmission mechanism through which US mortgage spread shocks affect business and house price …

Persistent link: https://www.econbiz.de/10012900006

Insight from a time-varying VAR model with stochastic volatility of the French housing and credit markets

Avouyi-Dovi, Sanvi; Labonne, Claire; Lecat, Rémy; Ray, … - 2017

Persistent link: https://www.econbiz.de/10011647274

Housing market dynamics : on the contribution of income shocks and credit constraints

Ortalo-Magné, François - 2001

are heteroeneous with respect to income and preferences and mortgage lending is restricted by a down-payment requirement …. The market interaction of young credit-constrained households with older or richer unconstrained households generates the … following results. (1) Current income of young credit-constrainded households affects housing prices independentlyof aggregate …

Persistent link: https://www.econbiz.de/10014460994

An empirical assessment of optimal monetary policy delegation in the euro area

Chen, Xiaoshan; Kirsanova, Tatiana; Leith, Campbell B. - 2014

Persistent link: https://www.econbiz.de/10010429975

Constrained interest rates and changing dynamics at the zero lower bound

Bäurle, Gregor; Kaufmann, Daniel; Kaufmann, Sylvia; … - In: Studies in nonlinear dynamics and econometrics : SNDE ; … 24 (2020) 2, pp. 1-26

Persistent link: https://www.econbiz.de/10012198531

Oil Shocks and the Zero Bound on Nominal Interest Rates

Bodenstein, Martin; Guerrieri, Luca; Gust, Christopher - 2010

Beginning in 2009, in many advanced economies, policy rates reached their zero lower bound (ZLB). Almost at the same time, oil prices started rising again. We analyze how the ZLB affects the propagation of oil shocks. As these shocks move inflation and output in opposite directions, their...

Persistent link: https://www.econbiz.de/10014189147