Similar Search Results

Jordà, Òscar - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of modern economic history in the advanced economies. We...

Persistent link: https://www.econbiz.de/10013039761

The mortgage cash flow channel of monetary policy transmission : a tale of two countries

Cooper, Daniel; Garga, Vaishali; Luengo-Prado, Maria José - 2021 - This version: August 2021

We study the mortgage cash flow channel of monetary policy transmission under fixed-rate mortgage (FRM) versus … adjustable-rate mortgage (ARM) regimes by comparing the United States with primarily long-term FRMs and Spain with primarily ARMs … that automatically reset annually. We find a robust transmission of mortgage rate changes to spending in both countries but …

Persistent link: https://www.econbiz.de/10012626226

The effect of interest rates on home buying : evidence from a shock to mortgage insurance premiums

Bhutta, Neil; Ringo, Daniel - In: Journal of monetary economics 118 (2021), pp. 195-211

Persistent link: https://www.econbiz.de/10012603769

The Interest Rate Elasticity of Mortgage Demand : Evidence from Bunching at the Conforming Loan Limit

DeFusco, Anthony - 2015

The relationship between the mortgage interest rate and a household's demand for mortgage debt has important … novel estimates of the interest rate elasticity of mortgage demand. Our empirical strategy exploits a discrete jump in … Freddie Mac. This discontinuity creates a large "notch" in the intertemporal budget constraint of prospective mortgage …

Persistent link: https://www.econbiz.de/10013034237

Income inequality, mortgage debt and house prices

Kösem, Sevim - 2021

Persistent link: https://www.econbiz.de/10012795016

The Terminations Premium in Mortgage Coupon Rates : Evidence on the Integration of Mortgage and Bond Markets

Hendershott, Patric H. - 1981

During the Last three years mortgage rates have risen relative to yields on comparable maturity bonds. The questions … between early 198 and early 1981 in coupon rates on GNMA mortgage pools relative to ''the" rate on a comparable portfolio of … Treasury bonds to be about 100 basis points. We attribute the increase to a rise in the terminations premia built into mortgage …

Persistent link: https://www.econbiz.de/10012478377

Mortgage asymmetric pricing, cash rate and international funding cost : Australian evidence

Quynh Chau Pham Holland; Liu, Benjamin; Roca, Eduardo; … - In: International review of economics & finance : IREF 65 (2020), pp. 46-68

Persistent link: https://www.econbiz.de/10012384788

Housing booms, reallocation and productivity

Dörr, Sebastian - 2020

Persistent link: https://www.econbiz.de/10012387016

The costs of macroprudential deleveraging in a liquidity trap

Chen, Jiaqian; Finocchiaro, Daria; Lindé, Jesper; … - 2021 - updated January 2021

What are the effects of different borrower-based macroprudential tools when both real and nominal interest rates are low? We study this question in a New Keynesian model featuring long-term debt, housing transaction costs and a zero lower bound constraint on policy rates. We find that the...

Persistent link: https://www.econbiz.de/10012229933

The costs of macroprudential deleveraging in a liquidity trap

Chen, Jiaqian; Finocchiaro, Daria; Lindé, Jesper; … - 2020

We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term...

Persistent link: https://www.econbiz.de/10012251966