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|a Albuquerque, Bruno.
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|a Consumption Effects of Mortgage Payment Holidays :
|b Evidence during the COVID-19 Pandemic /
|c Bruno Albuquerque, Alexandra Varadi.
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|a Washington, D.C. :
|b International Monetary Fund,
|c 2022.
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|a 1 online resource (58 pages)
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|a IMF Working Papers
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|a <strong>Off-Campus Access:</strong> No User ID or Password Required
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|a <strong>On-Campus Access:</strong> No User ID or Password Required
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|a Electronic access restricted to authorized BRAC University faculty, staff and students
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|a We use UK transaction-level data during the Covid-19 pandemic to study whether mortgage payment holidays (PH) can act as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage PH were accessed by both households with pre-existing financial vulnerabilities and by those with stronger balance sheets, including buy-to-let investors. We also find that the temporary liquidity relief provided by PH allowed liquidity-constrained households to maintain higher annual consumption growth compared to those non-eligible for the policy. Finally, we find that mortgage PH led to higher saving rates for more financially-stable households.
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|a Mode of access: Internet
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|a Macroeconomics
|2 imf
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|a Mortgage Payment Holidays
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|a Personal Finance
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|a Saving
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|a Wealth
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|a Varadi, Alexandra.
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|a IMF Working Papers; Working Paper ;
|v No. 2022/044
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|z Full text available on IMF
|u http://elibrary.imf.org/view/journals/001/2022/044/001.2022.issue-044-en.xml
|z IMF e-Library
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