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The role of credit on the evolution of wealth inequality in the USA
Oviedo Moguel, Rodolfo - 2020
earnings. Lastly, I introduce a shock to the credit market into the model in the form of loosening the borrowing constraints of …
Persistent link: https://www.econbiz.de/10012616406
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The role of credit on the evolution of wealth inequality in the USA
Oviedo Moguel, Rodolfo - 2020
earnings. Lastly, I introduce a shock to the credit market into the model in the form of loosening the borrowing constraints of …
Persistent link: https://www.econbiz.de/10012318998
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A model of mortgage default
Campbell, John Y.; Cocco, João F. - 2014 - This version: February 2014
This paper solves a dynamic model of households' mortgage decisions incorporating labor income, house price, inflation, and interest rate risk. It uses a zero-profit condition for mortgage lenders to solve for equilibrium mortgage rates given borrower characteristics and optimal decisions. The...
Persistent link: https://www.econbiz.de/10010254296
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Credit, bankruptcy, and aggregate fluctuations
Nakajima, Makoto; Ríos-Rull, José-Víctor - 2019
We document the cyclical properties of unsecured consumer credit (procyclical and volatile) and of consumer … access to unsecured credit (because of bankruptcy costs) and aggregate shocks, we show that the cyclical behavior of … household earnings growth accounts for these properties, albeit not for the large volatility of credit. We find that tilting …
Persistent link: https://www.econbiz.de/10012197797
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How important is variability in consumer credit limits?
Fulford, Scott L. - 2014
Credit limit variability is a crucial aspect of the consumption, savings, and debt decisions of households in the … United States. Using a large panel, this paper first demonstrates that individuals gain and lose access to credit frequently … and often have their credit limits reduced unexpectedly. Credit limit volatility is larger than most estimates of income …
Persistent link: https://www.econbiz.de/10010478883
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How important is variability in consumer credit limits?
Fulford, Scott L. - 2014 - This version: May 2014; first draft: June 2010
Credit limit variability is a crucial aspect of the consumption, savings, and debt decisions of households in the … United States. Using a large panel, this paper first demonstrates that individuals gain and lose access to credit frequently … and often have their credit limits reduced unexpectedly. Credit limit volatility is larger than most estimates of income …
Persistent link: https://www.econbiz.de/10010414215
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How important is variability in consumer credit limits?
Fulford, Scott L. - Federal Reserve Bank of Boston - 2010
Credit limit variability is a crucial aspect of the consumption, savings, and debt decisions of households in the … United States. Using a large panel, this paper first demonstrates that individuals gain and lose access to credit frequently … and often have their credit limits reduced unexpectedly. Credit limit volatility is larger than most estimates of income …
Persistent link: https://www.econbiz.de/10010938785
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Macroeconomic implications of financial imperfections: A survey
Claessens, Stijn; Kose, M. Ayhan - 2017
changes in financial intermediaries' balance sheets for the supply of credit, liquidity and asset prices, and, consequently …
Persistent link: https://www.econbiz.de/10012060201
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Macroeconomic implications of financial imperfections : a survey
Claessens, Stijn; Kose, M. Ayhan - 2017
changes in financial intermediaries’ balance sheets for the supply of credit, liquidity and asset prices, and, consequently …
Persistent link: https://www.econbiz.de/10011778050
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Macroeconomic Effects of Financial Uncertainty
Dlugoszek, Grzegorz - 2018
This paper investigates the macroeconomic effects of uncertainty originating in the financial sector. My contribution is twofold. First, I document empirical relevenace of financial uncertainty using SVAR methods. Then, I employ the DSGE framework developed by Gertler and Karadi (2011) to...
Persistent link: https://www.econbiz.de/10011892101