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Team Public Relations
Pills or puts?Shuo XiaFinancial Times, February 2, 2024
The Halle Institute for Economic Research (IWH) and the International Network for Economic Research (INFER) were organising a workshop on risk spillover, current challenges for sustainable fiscal policy, and evaluations of pan-European transfers.
We study the implications of multi-period mortgage loans for monetary policy, considering several realistic modifications – fixed interest rate contracts, lower bound constraint on newly granted loans, and possibility for the collateral constraint to become slack – to an otherwise standard DSGE model with housing and financial intermediaries.