The macroeconomic effects of debt relief policies during recessions / by Soyoung Lee. : FB3-5/2023-48E-PDF
"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.
Lien permanent pour cette publication :
publications.gc.ca/pub?id=9.927631&sl=1
| Ministère/Organisme | Bank of Canada, issuing body. |
|---|---|
| Titre | The macroeconomic effects of debt relief policies during recessions / by Soyoung Lee. |
| Titre de la série | Staff working paper = Document de travail du personnel, 1701-9397 ; 2023-48 |
| Type de publication | Série - Voir l'enregistrement principal |
| Langue | [Anglais] |
| Format | Électronique |
| Document électronique | |
| Note(s) | "Last updated: August 28, 2023." Includes bibliographical references. Includes abstract in French. |
| Information sur la publication | [Ottawa] : Bank of Canada = Banque du Canada, 2023. ©2023 |
| Auteur / Contributeur | Lee, Soyoung, author. |
| Description | 1 online resource (1 volume (various pagings)) : charts. |
| Numéro de catalogue |
|
| Descripteurs | Debt relief. Recessions. Dettes -- Allègement. Récessions. |
Demander des formats alternatifs
Pour demander une publication dans un format alternatif, remplissez le formulaire électronique des publications du gouvernement du Canada. Utilisez le champ du formulaire «question ou commentaire» pour spécifier la publication demandée.- Date de modification :