After the Crisis, unconventional monetary policy measures were adopted. A major question is whether they have succeeded in boosting aggregate demand. This column exploits adjustable rate mortgages that originated before the Crisis and featured an automatic reset of the interest rate. Low interest rates have stimulated consumption of durable goods, but the expansionary effect is partially dampened by households’ desire to deleverage voluntarily.
Marco Di Maggio, Amir Kermani, Rodney Ramcharan, 05 October 2014
Most Read
-
Terzi
-
Goldstein, Levy Yeyati, Sartorio
-
Aghion, Artus, Oliu-Barton, Pradelski
-
Taneja, Mizen, Bloom
-
Krugman
-
Eichengreen, O'Rourke
-
Burgess, Sievertsen
-
Mitze, Kosfeld, Rode, Wälde
-
Heldring, Robinson
-
Eichengreen
Blogs&Reviews
-
Hebous
-
Gylfason
-
Beetsma, Schuknecht
-
Bouwens
-
Gaspar, Larraín Bascuñán
Vox eBooks
Don't Miss
Arezki, Djankov, Panizza
Bartsch, Bénassy-Quéré, Corsetti, Debrun
Scheuer
Events
-
13 - 13 April 2021 / Online /
-
14 - 14 April 2021 / Online /
-
14 - 16 April 2021 / Online / The CEPR Network on Household Finance, EDHEC and Think Forward Initiative (TFI).
-
16 - 16 April 2021 / Online /
-
20 - 20 April 2021 / Webinar /
CEPR Policy Research
-
Gobillon, Solignac
-
Giglio, Maggiori, Stroebel, Weber
-
Summers, Fatás
-
Favero, Galasso
-
Butt, Churm, McMahon, Morotz, Schanz
-
Eichengreen, Avgouleas, Poiares Maduro, Panizza, Portes, Weder di Mauro, Wyplosz, Zettelmeyer
-
Baldwin, Beck, Bénassy-Quéré, Blanchard, Corsetti, De Grauwe, den Haan, Giavazzi, Gros, Kalemli-Ozcan, Micossi, Papaioannou, Pesenti, Pissarides , Tabellini, Weder di Mauro
-
Baldwin, Nakatomi
-
Thimann
-
Goodhart, Perotti