Aggregate events often start locally with households learning about the unfolding of events through social communication. Using plausibly exogenous variation in counties’[...]

One of the most important channels through which monetary policy affects the real economy is changes in mortgage rates. This paper studies the effects of mortgage rate ch[...]

The data and programs replicate tables and figures from "Debt-relief programs and money left on the table: Evidence from Canada’s response to COVID-19", by Allen, Clark, [...]

This paper analyzes the effectiveness of debt‐relief programs targeting short‐run household liquidity constraints implemented in Canada in response to the COVID‐19 pandem[...]

We provide quantitative guidance on whether and to what extent different elements of Heterogeneous Agent New Keynesian (HANK) models amplify or dampen the response of agg[...]

This paper examines the relationship between house prices and consumption, through the use of debt. Using unique Canadian household-level data that reports the uses of de[...]

Rising levels of household indebtedness have created concerns about the vulnerabilities of households to adverse economic shocks and the impact on financial stability. To[...]

Nous construisons un cadre d'analyse formel pour simuler l'impact de divers chocs économiques sur le ratio du service de la dette des ménages, en utilisant des données d'[...]

Payment services offered by non-banks have flourished in recent years. The author provides an overview of the different kinds of non-bank retail payments schemes currentl[...]

This paper studies the role that market structure plays in affecting the diffusion of electronic banking. Electronic banking (and electronic commerce more generally) redu[...]