Showing 1 - 10 of 1,063
This paper examines the relationship between house prices and consumption, through the use of debt. Using unique Canadian household-level data that reports the uses of debt, we begin by looking at the relationship between house prices and debt. Using quantile regression, we find a positive and...
Persistent link: https://www.econbiz.de/10010602143
This paper quantifies the effects of improving public equity markets on macroeconomic aggregates and welfare. I use an open-economy extension of Angeletos (2007), where entrepreneurs face idiosyncratic productivity risk in privately held firms. They can diversify by investing in publicly traded...
Persistent link: https://www.econbiz.de/10010960401
Persistent link: https://www.econbiz.de/10011939762
Understanding how much of the increased debt load of Canadian households has been used to finance household spending on consumption and home renovation is important for the conduct of monetary policy. In this article, the authors use a comprehensive data set that provides information on the uses...
Persistent link: https://www.econbiz.de/10009651316
Preliminary results suggest that the effects of stock market liberalization can depend on the amount of idiosyncratic uncertainty faced by the owners of the private firms, as well as on the shares of entrepreneurs and workers in the economy.
Persistent link: https://www.econbiz.de/10010554938
This paper revisits the results of Moskowitz and Vissing-J?gensen (2002) on returns to entrepreneurial investments in the United States. Following the authors' methodology and new data from the Survey of Consumer Finances, I find that the "private equity premium puzzle" does not survive the...
Persistent link: https://www.econbiz.de/10010949120
In this paper, I extend the results of Moskowitz and Vissing-Jørgensen (2002) on the returns to entrepreneurial investments in the United States. First, following the authors' methodology I replicate the original findings from the Survey of Consumer Finances (SCF) for the period 1989 - 1998 and...
Persistent link: https://www.econbiz.de/10010280050
This paper examines the relationship between house prices and consumption, through the use of debt. Using unique Canadian household-level data that reports the uses of debt, we begin by looking at the relationship between house prices and debt. Using quantile regression, we find a positive and...
Persistent link: https://www.econbiz.de/10010319642
The heterogeneity of businesses and households impacts aggregate economic fluctuations and, in turn, is shaped by aggregate fluctuations. This view has emerged over the last decade with strong implications for the transmission and conduct of monetary policy. Our thematic review focuses on key...
Persistent link: https://www.econbiz.de/10012888672
We study the causal effect of mortgage rate changes on consumer spending, debt repayment, and defaults during an expansionary and a contractionary monetary policy episode in Canada. Our identification takes advantage of the fact that the interest rates of short-term fixed-rate mortgages (the...
Persistent link: https://www.econbiz.de/10012619568