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We document that during the Global Recession, US monetary policy easings triggered the "exorbitant duty" of the United States, the issuer of the world's dominant currency, by causing a dollar appreciation and a transfer of wealth from the United States to the rest of the world. This dollar...
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mortgage interest rate. The results show that the subsidy boosted mortgage loans by around 38 percent. However, it is also …
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The largest credit or liquidity program created by the Federal Reserve during the financial crisis was the mortgage …-backed securities (MBS) purchase program. In this paper, we examine the quantitative impact of this program on mortgage interest rate …. Our empirical results attribute a sizable portion of the decline in mortgage rates to such risks and a relatively small …
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behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher …
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This paper develops a general equilibrium model featuring tax deductible mortgage interest. There are two main results …: (i) a higher mortgage interest deduction leads to higher house prices, more levered households, and a higher rate of … mortgage default; (ii) when mortgage risk is high the presence of mortgage interest deduction leads to more volatile responses …
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behaviour of Italian mortgage lenders using a novel loan-level dataset. When policy rates turn negative, banks with higher …
Persistent link: https://www.econbiz.de/10012928343