Household debt, housing cycles, and interactions with monetary policy

This dissertation is a collection of four chapters on household debt and housing cycles in the United States, and their interaction with the real economy and monetary policy. The first three chapters intend to help better understand the role of debt for macroeconomic fluctuations and financial stability, more generally. They also shed light on the importance of household debt to the effectiveness of monetary policy, particularly by stressing the substantial regional heterogeneity within the United States. The final chapter looks into the macro implications of an apparent recent structural change in the US housing market, namely that housing supply elasticities appear to be lower in the current housing recovery.

Jaar van publicatie:2019

Toegankelijkheid:Open