|
|
|
|
| LEADER |
01825cas a2200277 a 4500 |
| 001 |
AALejournalIMF021026 |
| 008 |
230101c9999 xx r poo 0 0eng d |
| 020 |
|
|
|c 5.00 USD
|
| 020 |
|
|
|z 9781513546803
|
| 022 |
|
|
|a 1018-5941
|
| 040 |
|
|
|a BD-DhAAL
|c BD-DhAAL
|
| 100 |
1 |
|
|a Chen, Jiaqian.
|
| 245 |
1 |
4 |
|a The Costs of Macroprudential Deleveraging in a Liquidity Trap /
|c Jiaqian Chen, Daria Finocchiaro, Jesper Linde, Karl Walentin.
|
| 264 |
|
1 |
|a Washington, D.C. :
|b International Monetary Fund,
|c 2020.
|
| 300 |
|
|
|a 1 online resource (66 pages)
|
| 490 |
1 |
|
|a IMF Working Papers
|
| 500 |
|
|
|a <strong>Off-Campus Access:</strong> No User ID or Password Required
|
| 500 |
|
|
|a <strong>On-Campus Access:</strong> No User ID or Password Required
|
| 506 |
|
|
|a Electronic access restricted to authorized BRAC University faculty, staff and students
|
| 520 |
3 |
|
|a We examine the effects of various borrower-based macroprudential tools in a New Keynesian environment where both real and nominal interest rates are low. Our model features long-term debt, housing transaction costs and a zero-lower bound constraint on policy rates. We find that the long-term costs, in terms of forgone consumption, of all the macroprudential tools we consider are moderate. Even so, the short-term costs differ dramatically between alternative tools. Specifically, a loan-to-value tightening is more than twice as contractionary compared to loan-to-income tightening when debt is high and monetary policy cannot accommodate.
|
| 538 |
|
|
|a Mode of access: Internet
|
| 700 |
1 |
|
|a Finocchiaro, Daria.
|
| 700 |
1 |
|
|a Linde, Jesper.
|
| 700 |
1 |
|
|a Walentin, Karl.
|
| 830 |
|
0 |
|a IMF Working Papers; Working Paper ;
|v No. 2020/089
|
| 856 |
4 |
0 |
|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2020/089/001.2020.issue-089-en.xml
|z IMF e-Library
|