Narrow search
Showing 1 - 10 of 163,269
Cover Image
House prices, credit and the effect of monetary policy in Norway: Evidence from Structural VAR Models
Robstad, Ørjan - Norges Bank - 2014
This paper investigates the responses of house prices and household credit to monetary policy shocks in Norway, using … household credit is muted. This is consistent with a relatively small refinancing rate of the mortgage stock each quarter. Using … to mitigate household credit may prove costly in terms of GDP and inflation variation. …
Persistent link: https://www.econbiz.de/10010835411
Cover Image
Betting the House
Jorda, Oscar; Schularick, Moritz; Taylor, Alan M. - Hong Kong Institute for Monetary Research (HKIMR), … - 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 …
Persistent link: https://www.econbiz.de/10011144022
Cover Image
Betting the House
Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 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 …
Persistent link: https://www.econbiz.de/10011145419
Cover Image
Debt dynamics and monetary policy: A note
Laséen, Stefan; Strid, Ingvar - 2013
"Leaning against the wind" - a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate - has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10010427086
Cover Image
Debt dynamics and monetary policy : a note
Laséen, Stefan; Strid, Ingvar - 2013
"Leaning against the wind" - a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate - has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10010227164
Cover Image
Debt Dynamics and Monetary Policy: A Note
Laséen, Stefan; Strid, Ingvar - Sveriges Riksbank - 2013
"Leaning against the wind" – a tighter monetary policy than necessary for stabilizing inflation around the inflation target and unemployment around a long-run sustainable rate – has been justified as a way of reducing household indebtedness. In a recent paper Lars Svensson claims that this...
Persistent link: https://www.econbiz.de/10010733867
Cover Image
Monetary policy, inflation outlook, and recession probabilities
Ajello, Andrea; Benzoni, Luca; Schwinn, Makena; Timmer, … - 2022
Why does the short-term slope of the yield curve predict recessions? We explore the economic forces underlying Treasury yields' fluctuations and highlight the roles of a tight monetary policy stance and expectations of lower inflation in predicting downturns. While the monetary policy stance is...
Persistent link: https://www.econbiz.de/10013279282
Cover Image
Why does the yield-curve slope predict recessions?
Benzoni, Luca; Chyruk, Olena; Kelley, David - 2018
Why is an inverted yield-curve slope such a powerful predictor of future recessions? We show that a decomposition of the yield curve slope into its expectations and risk premia components helps disentangle the channels that connect fluctuations in Treasury rates and the future state of the...
Persistent link: https://www.econbiz.de/10011924714
Cover Image
Why does the yield-curve slope predict recessions?
Benzoni, Luca; Chyruk, Olena; Kelley, David - 2018
Why is an inverted yield-curve slope such a powerful predictor of future recessions? We show that a decomposition of the yield curve slope into its expectations and risk premia components helps disentangle the channels that connect fluctuations in Treasury rates and the future state of the...
Persistent link: https://www.econbiz.de/10012030358
Cover Image
Understanding post-COVID inflation dynamics
Harding, Martín; Lindé, Jesper; Trabandt, Mathias - 2022
We propose a macroeconomic model with a nonlinear Phillips curve that has a flat slope when inflationary pressures are subdued and steepens when inflationary pressures are elevated. The nonlinear Phillips curve in our model arises due to a quasi-kinked demand schedule for goods produced by...
Persistent link: https://www.econbiz.de/10014544443