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| 02130nam 2200385zi 4500 |
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| 001 | 9.927631 |
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| 003 | CaOODSP |
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| 005 | 20230920145424 |
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| 006 | m o d f |
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| 007 | cr |n||||||||| |
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| 008 | 230920t20232023oncd ob f|0| 0 eng d |
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| 040 | |aCaOODSP|beng|erda|cCaOODSP |
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| 041 | |aeng|beng|bfre |
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| 043 | |an-cn--- |
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| 086 | 1 |aFB3-5/2023-48E-PDF |
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| 100 | 1 |aLee, Soyoung, |eauthor. |
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| 245 | 14|aThe macroeconomic effects of debt relief policies during recessions / |cby Soyoung Lee. |
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| 264 | 1|a[Ottawa] : |bBank of Canada = Banque du Canada, |c2023. |
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| 264 | 4|c©2023 |
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| 300 | |a1 online resource (1 volume (various pagings)) : |bcharts. |
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| 336 | |atext|btxt|2rdacontent |
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| 337 | |acomputer|bc|2rdamedia |
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| 338 | |aonline resource|bcr|2rdacarrier |
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| 490 | 1 |aStaff working paper = Document de travail du personnel, |x1701-9397 ; |v2023-48 |
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| 500 | |a"Last updated: August 28, 2023." |
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| 504 | |aIncludes bibliographical references. |
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| 520 | |a"I study debt relief as a stimulus policy using a dynamic stochastic general equilibrium model that captures the rich heterogeneity in households’ balance sheets. In this environment, a large-scale mortgage principal reduction can amplify a recovery, support house prices and lower foreclosures. The nature of the intervention, in terms of its eligibility, liquidity and financing, shapes its macroeconomic impact. This impact rests on how resources are redistributed across households that vary in their marginal propensities to consume. The availability of bankruptcy on unsecured debt quantitatively changes the macroeconomic response to large-scale mortgage relief by reducing precautionary savings"--Abstract. |
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| 546 | |aIncludes abstract in French. |
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| 650 | 0|aDebt relief. |
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| 650 | 0|aRecessions. |
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| 650 | 6|aDettes|xAllègement. |
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| 650 | 6|aRécessions. |
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| 710 | 2 |aBank of Canada, |eissuing body. |
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| 830 | #0|aStaff working paper (Bank of Canada)|v2023-48.|w(CaOODSP)9.806221 |
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| 856 | 40|qPDF|s926 KB|uhttps://publications.gc.ca/collections/collection_2023/banque-bank-canada/FB3-5-2023-48-eng.pdf |
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