House prices, borrowing constraints and monetary policy in the business cycle

By Matteo Iacoviello. 2005

2,678 citations recorded by the source corpus.

View Paper: https://www.semanticscholar.org/paper/4ac8fa028eaff195051a8607ca04f042e40dc088

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In Economics and Econometrics

Citations in the corpus

Rising household debt: Its causes and macroeconomic implications--a long-period analysis (2008, background): “2 See, for example, Krueger and Perri (2006), Boushey and Weller (2006), Iacoviello (2006). 126 A.”
Household Expenditures, Wages, Rents (2011, neutral): “ . ( 17 ) Given this, we define ¯ r and ¯ w such that ¯ r = exp{ 1”
Heterogeneity in Money Holdings Across Euro Area Countries: The Role of Housing (2011, positive): “Due to asymmetric information distribution on credit markets, agents' ability to borrow depends on the value of their collateral (Iacoviello, 2004, 2005).”
Should Monetary Policy Lean Against the Wind? An Analysis Based on a DSGE Model with Banking (2013, positive): “The framework we use is a simplified version of Gerali et al. (2010; henceforth GNSS), which introduces a monopolistically competitive banking sector into a DSGE model with financial frictions (à la Iacoviello, 2005).”
Credit Frictions and Optimal Monetary Policy (2008, background): “The first term on the right-hand side represents the funds that the intermediary lends to its borrowers, while Ξt(bt) represents a real resource cost of loan origination and monitoring.(20) (The quantities in (1.”
Monetary Policy, Financial Conditions, and Financial Stability (2014, background): “For example, Levin, Natalucci, and Zakraǰsek (2004) find a sharp rise in external finance premiums for businesses during the 2001 recession, and Iacoviello (2005) shows that changes in home equity affect household borrowing and spending by more than a conventional wealth effect.”
Why Has House Price Dispersion Gone Up (2010, background): “Finally, our work is complementary to macro and asset pricing models that focus on the role of housing as a consumption good and/or a collateral asset (Iacoviello, 2005; Krueger and Fernández-Villaverde, 2006; Piazzesi, Schneider, and Tuzel, 2006; Lustig and Van Nieuwerburgh, 2005, 2007). In our mod”
Macroeconomic Propagation Under Different Regulatory Regimes: Evidence From an Estimated DSGE Model For the Euro Area (2010, neutral): “, Iacoviello (2005), Monacelli (2009), and Iacoviello and Neri (2010) for a thorough discussion of the calibration of the discount factors in a similar setup.”
Credit and Banking in a DSGE model (2009, background): “Equations (13), (15) and (16) show that steady-state spreads between banking interest rates and the interbank rate depend on the degree of substitution between”