Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism
Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism
About this item
Full title
Author / Creator
Publisher
Oxford University Press
Journal title
Language
English
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Publication information
Publisher
Oxford University Press
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Scope and Contents
Contents
Using household survey data for the U.S. and the U.K., we show that the aggregate response of consumption to interest rate changes is driven by households with a mortgage. Outright home-owners do not adjust expenditure at all while renters change their spending but by less than mortgagors. Income rises for all households as interest rate cuts direc...
Alternative Titles
Full title
Monetary Policy when Households have Debt: New Evidence on the Transmission Mechanism
Authors, Artists and Contributors
Author / Creator
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Primary Identifiers
Record Identifier
TN_cdi_crossref_primary_10_1093_restud_rdy074
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_crossref_primary_10_1093_restud_rdy074
Other Identifiers
ISSN
0034-6527
E-ISSN
1467-937X
DOI
10.1093/restud/rdy074
