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Credit conditions, macroprudential policy and house prices

Kelly, Robert; McCann, Fergal; O'Toole, Conor - 2017

We provide a micro-empirical link between the large literature on credit and house prices and the burgeoning literature on macroprudential policy. Using loan-level data on Irish mortgages originated between 2003 and 2010, we construct a measure of credit availability which varies at the borrower...

Persistent link: https://www.econbiz.de/10011975778

Deconstructing Canada's housing markets : finance, affordability urban sprawl

Cheung, Calista - 2014

House prices have increased significantly in Canada over the past decade, driving household debt and residential … government backing of the mortgage market. Nonetheless, the dominance of the crown corporation CMHC in the mortgage insurance … market concentrates a significant amount of risk in public finances. Improving competitive conditions in the mortgage …

Persistent link: https://www.econbiz.de/10010464985

Betting the house in Denmark

Smidova, Zuzana - 2016

The Danish financial sector is big and there is a high degree of inter-connectedness between banks, mortgage …

Persistent link: https://www.econbiz.de/10011577975

Making the banking sector more resilient and reducing household debt in the Netherlands

Kierzenkowski, Rafał; Havrylchyk, Olena; Beynet, Pierre - 2014

% for home-owning households and 40% for mortgage holders. Even though defaults have so far been limited, mortgage …

Persistent link: https://www.econbiz.de/10010464961

Enhancing the financing of the real economy and financial stability in the United Kingdom

Havrylchyk, Olena; Kierzenkowski, Rafał - 2015

The banking sector in the United Kingdom (UK) was deeply affected by the crisis. Bank credit has collapsed reflecting both weak demand and tighter supply. New prudential requirements have improved the resilience of the banking sector and a number of measures were taken to support credit supply....

Persistent link: https://www.econbiz.de/10011399564

Housing, financial and capital taxation policies to ensure robust growth in Sweden

McGowan, Muge Adalet - 2013

Extensive structural reforms since the early 1990s have strengthened the resilience of the Swedish economy to shocks. However, more needs to be done to better manage near-term risks and ensure that growth remains sustainable in the longer run. Reforming the housing market would reduce the risks...

Persistent link: https://www.econbiz.de/10009711216

Credit default swap spreads and systemic financial risk

Giglio, Stefano - 2016

This paper measures the joint default risk of financial institutions by exploiting information about counterparty risk in credit default swaps (CDS). A CDS contract written by a bank to insure against the default of another bank is exposed to the risk that both banks default. From CDS spreads we...

Persistent link: https://www.econbiz.de/10011974974

Services Trade Restrictiveness Index (STRI) : financial services

Rouzet, Dorothée; Nordås, Hildegunn Kyvik; Gonzales, … - 2014

This paper presents the services trade restrictiveness indices (STRIs) for financial services. The STRIs are composite indices taking values between zero and one, zero representing an open market and one a market completely closed to foreign services providers. The indices are calculated for 40...

Persistent link: https://www.econbiz.de/10010466606

Promoting financial inclusion through financial education : OECD/INFE evidence, policies and practice

Atkinson, Adele; Messy, Flore-Anne - 2013

Financial inclusion is an international policy priority and demand-side initiatives including financial education have an important role to play in helping individuals to access and use appropriate, formal financial products. In 2010, under the support of the Russian Trust Fund for Financial...

Persistent link: https://www.econbiz.de/10010230643

The (unintended?) consequences of the largest liquidity injection ever

Crosignani, Matteo; Faria-e-Castro, Miguel; Fonseca, Luís - 2016

We study the design of lender of last resort interventions and show that the provision of long-term liquidity incentivizes purchases of high-yield short-term securities by banks. Using a unique security-level data set, we find that the European Central Bank's three-year Long-Term Refinancing...

Persistent link: https://www.econbiz.de/10011975661

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