scholarly journals Mortgage Prepayment and Path-Dependent Effects of Monetary Policy

2018 ◽  
Author(s):  
David Berger ◽  
Konstantin Milbradt ◽  
Fabrice Tourre ◽  
Joseph Vavra
Keyword(s):  
Monetary Policy ◽  
Mortgage Prepayment ◽  
Path Dependent

scholarly journals Mortgage Prepayment and Path-Dependent Effects of Monetary Policy

2021 ◽  
Vol 111 (9) ◽  
pp. 2829-2878
Author(s):  
David Berger ◽  
Konstantin Milbradt ◽  
Fabrice Tourre ◽  
Joseph Vavra
Keyword(s):  
Monetary Policy ◽  
Interest Rate ◽  
Interest Rates ◽  
Current Level ◽  
Fixed Rate ◽  
Mortgage Prepayment ◽  
Recent Interest ◽  
Household Model ◽  
Path Dependent ◽  
The Relationship

How much ability does the Fed have to stimulate the economy by cutting interest rates? We argue that the presence of substantial debt in fixed-rate, prepayable mortgages means that the ability to stimulate the economy by cutting interest rates depends not just on their current level but also on their previous path. Using a household model of mortgage prepayment matched to detailed loan-level evidence on the relationship between prepayment and rate incentives, we argue that recent interest rate paths will generate substantial headwinds for future monetary stimuli. (JEL E32, E43, E52, E58, G21, G51)

scholarly journals Mortgage Prepayment, Race, and Monetary Policy

2020 ◽  
Author(s):  
Kristopher S. Gerardi ◽  
Paul S. Willen ◽  
David Hao Zhang
Keyword(s):  
Monetary Policy ◽  
Mortgage Prepayment

scholarly journals Mortgage Prepayment, Race, and Monetary Policy

2020 ◽  
Author(s):  
Kristopher S. Gerardi ◽  
Paul S. Willen ◽  
David Hao Zhang
Keyword(s):  
Monetary Policy ◽  
Mortgage Prepayment

Moral reasoning is the process of asking moral questions and answering them

2019 ◽  
Vol 42 ◽  
Author(s):  
Mark Alfano
Keyword(s):  
Moral Reasoning ◽  
Dependent Process ◽  
Asking Questions ◽  
Path Dependent ◽  
Path Dependent Process ◽  
Moral Questions

Abstract Reasoning is the iterative, path-dependent process of asking questions and answering them. Moral reasoning is a species of such reasoning, so it is a matter of asking and answering moral questions, which requires both creativity and curiosity. As such, interventions and practices that help people ask more and better moral questions promise to improve moral reasoning.

Imperfect Knowledge and Monetary Policy

2006 ◽  
Author(s):  
Vítor Gaspar ◽  
Otmar Issing ◽  
Oreste Tristani ◽  
David Vestin
Keyword(s):  
Monetary Policy ◽  
Imperfect Knowledge
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