Multiple Credit Constraints and Time-Varying Macroeconomic Dynamics

Identifying the transmission channels of credit supply shocks to household debt: Price and non-price effects

“…This is in line with existing research, which shows that looser credit limits allow fnancially constrained borrowers to access more credit (e.g. Ingholt [2018], Iacoviello…”

Household Debt and Borrower-Based Measures in Finland: Insights from a Heterogeneous Agent Model

“…The first strand covers theoretical work quantifying the effectiveness of macroprudential policy tools in house price boom-bust episodes. This strand includes papers by Alpanda and Zubairy (2017), Chen et al (2020), Ferrero, Harrison, andNelson (2018), Greenwald (2018), Justiniano et al (2019), Ingholt (2022), andLambertini, Mendicino, andPunzi (2013). 5 In particular, Chen et al (2020) examine the effects of various borrower-based macroprudential tools, including LTV and DTI, under the condition that both real and nominal interest rates are low.…”