Since 1 June 2003 the file of the Central Office for Credits to Private Individuals has recorded information relating to all consumer credits and mortgage loans contracted by natural persons for private purposes, as well as any payment defaults resulting from these loans. This registration aims...

In the wake of the Global Financial Crisis, a significant research effort has been made to better understand the links between household debt levels, financial stability risks, and the ongoing implications of the ‘debt overhang’ for economic growth. However, accurately measuring the...

Government intervention in the construction sector as a way to boost the economy has been a constant in Colombia for the past 90 years. This paper explicitly tests the impact of the most recent of such interventions: a subsidy to the mortgage interest rate. The results show that the subsidy...

Este documento analiza la riqueza en vivienda como un canal de trasmisio?n de la poli?tica monetaria en Colombia, a partir de la evidencia de un modelo de equilibrio general dina?mico y estoca?stico calibrado para la economi?a colombiana. La medicio?n del efecto riqueza para Colombia arrojo?...

В статье рассмотрены причины возникновения ипотечного кризиса в США и его влияние на банковские структуры разных стран. Представлено теоретическое обоснование...

This paper presents VAR results on the recent economic history of the U.S and focuses on the dependence of U.S. macrofinancial variables on international capital flows. Both gross and net flows are included in the analysis. The results indicate that cross-border funding has affected the build-up...