, where the price of credit impacts the quantity of leverage households choose. Mortgages are supplied by financial … realistic boom in household borrowing, debt-financed consumption, and house prices. This boom results in a larger bust in asset … prices and household borrowing in future financialcrises …

conditions not only affect the supply of credit in volume, but also in its currency and risk composition. Hence, we establish a …We study how monetary conditions change the supply by banks of mortgage credit to households. We exploit the widespread … presence of foreign currency mortgages in Hungary and study this country's comprehensive credit registry. Changes in monetary …

study the effects of positive and negative credit supply (CS) shocks on subsequent household defaults on debt over the last … lead to greater household defaults in the future if they also increase mortgage-to-income ratios. We show that the CS shock …-induced (i) shifts of employment between the tradable and non-tradable sectors, (ii) changes in household income and (iii) in …

Assuming a risk-neutral bank and assuming household utility to be exponential, we show how under information symmetry … the covariance of income and loan repayments may explain higher household borrowings than in the case without default … that in a situation in which a household without default option would neither borrow nor save, the existence of a default …

We study an Agent-based model of household-bank relationships where households borrow for the purpose of consumption … control treatment. Varying the strength of the social orientation and prevailing credit constraints, we find that the time … path of macroeconomic time series is largely affected by the Joneses effect, while credit constraints determine their …