Showing 1 - 10 of 58
Persistent link: https://www.econbiz.de/10010504810
resolution of the mortgage arrears crisis in Ireland. Using a large and close to exhaustive panel data set of Irish mortgages … legacy effects of the crisis in explaining recent entry to arrears, the role of mortgage modification in the reduction in … Irish mortgage market. …
Persistent link: https://www.econbiz.de/10011848377
debt resolution process in the Irish mortgage market in the lead up to the COVID-19 shock. We highlight the widespread … engagement of Irish borrowers with debt resolution mechanisms during a decade in which one sixth of mortgage accounts were … restructured by 2016. Lenders favoured short-term mortgage modifications at the beginning of the decade and three-quarters of …
Persistent link: https://www.econbiz.de/10012550326
Using household survey data, we document evidence of a loosening of credit standards in Euro area countries that experienced a property price boom-and-bust cycle. Borrowers in these countries exhibited significantly higher loan-to-value (LTV) and loan-to-income (LTI) ratios in the run up to the...
Persistent link: https://www.econbiz.de/10011978833
Housing markets, which are large and subject to sharp swings, shape to a great extent countries’ exposure to economic crises and their capacity to recover from them. This paper analyses the transmission of housing-related shocks to the real economy: it investigates the role that policy plays...
Persistent link: https://www.econbiz.de/10012111101
This paper develops a theory of the secondary market trading of financial securitities in which endogenous asset market dynamics generate periods of growing aggregate credit volumes and falling credit standards even in the absence of "financial shocks." Falling credit standards in turn lead to...
Persistent link: https://www.econbiz.de/10011975286
distance, trade, and finance to the US subprime mortgage and Eurozone debt crisis areas. To understand the causes of the cross …
Persistent link: https://www.econbiz.de/10011975657
Failing to account for joint dynamics of credit and asset prices can be hazardous for countercyclical macroprudential policy. We show that composite financial cycles, emphasising expansions and contractions common to credit and asset prices, powerfully predict systemic banking crises. Further,...
Persistent link: https://www.econbiz.de/10011976914
Persistent link: https://www.econbiz.de/10010440835