Arbeitspapier
Lender-specific mortgage supply shocks and macroeconomic performance in the United States
This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. Based on micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender-specific mortgage supply shocks affect aggregate mortgage, house price, and employment dynamics at the regional level. The larger the idiosyncratic shocks to newly issued mortgages, the stronger are mortgage, house price, and employment growth. While shocks at the level of shadow banks significantly affect mortgage and house price dynamics, too, they do not matter much for employment.
- Sprache
-
Englisch
- Erschienen in
-
Series: DIW Discussion Papers ; No. 1936
- Klassifikation
-
Wirtschaft
Financial Markets and the Macroeconomy
Banks; Depository Institutions; Micro Finance Institutions; Mortgages
Urban, Rural, Regional, Real Estate, and Transportation Economics: Household Analysis: General
- Thema
-
Credit supply shocks
mortgage market concentration
real effects from housing markets
- Ereignis
-
Geistige Schöpfung
- (wer)
-
Bremus, Franziska
Krause, Thomas
Noth, Felix
- Ereignis
-
Veröffentlichung
- (wer)
-
Deutsches Institut für Wirtschaftsforschung (DIW)
- (wo)
-
Berlin
- (wann)
-
2021
- Handle
- Letzte Aktualisierung
-
10.03.2025, 11:44 MEZ
Datenpartner
Dieses Objekt wird bereitgestellt von:
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
ZBW - Deutsche Zentralbibliothek für Wirtschaftswissenschaften - Leibniz-Informationszentrum Wirtschaft. Bei Fragen zum Objekt wenden Sie sich bitte an den Datenpartner.
Objekttyp
- Arbeitspapier
Beteiligte
- Bremus, Franziska
- Krause, Thomas
- Noth, Felix
- Deutsches Institut für Wirtschaftsforschung (DIW)
Entstanden
- 2021
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