Policies for Crises Prevention and Management

Title:

Policies for Crises Prevention and Management

GSB Authors:

Arvind Krishnamurthy

All Authors:

Krishnamurthy, Arvind.

Date:

2017-09-01

Abstract:

I discuss the role of debt in financial crises and macroprudential tools to manage debt. A principal conclusion is that changes in mortgage contract designs, an ex ante measure aimed at the household sector, can deliver significant welfare benefits.

Publication:

International Journal of Central Banking

Volume:

13

Issue:

3

Page Range:

277-285

Collection:

Faculty Publications

Keywords:

mortgage default

mortgage-backed securities

borrower

Publication Type:

Articles