Tag: #MonetaryPolicy
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Monetary Policy Implications of Heterogenous Mortgage Refinancing
In this interview with the Faculti, I discussed the main findings of my job market paper. We talked about how monetary policy affects the economy through mortgage refinancing and why credit score heterogeneity dampens the strength of this channel of monetary transmission.
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A Farewell to Equality: Monetary Policy Implications of Heterogeneous Mortgage Refinancing
A Farewell to Equality: Monetary Policy Implications of Heterogeneous Mortgage Refinancing Martsella Davitaya We show that credit score heterogeneity dampens monetary policy transmission through fixed-rate mortgages (FRMs). Using Fannie Mae Single-Family Loan-Level historical data, we show that a one-percentage-point reduction in the mortgage rate increases the refinancing probability for borrowers with excellent credit scores…
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Anchored or De-anchored? Inflation Expectations and Monetary Policy
Anchored or De-anchored? Inflation Expectations and Monetary Policy Martsella Davitaya Download PDF and read more #ExpectedInflation, #FedReaction, #InflationIndexedBonds, #InflationRisk, #MonetaryPolicy, #NominalBonds, #TIPS Previous PostNext Post