Empirical Macro-Finance Seminar
Speaker: Soyoung Lee (Bank of Canada) Title: The household credit channel of monetary policy: A bottom-up approach Discussant: Aaron Hedlund (University of Missouri) Abstract: Monetary policy-induced interest rate changes of mortgages reach households differentially with heterogeneous credit and consumption implications. Using Canadian microdata, we identify an asymmetry between consumers with high and low credit risks. […]