Housing, household debt and policy
Date: 11-12 December 2017
Location: Reserve Bank of New Zealand
On 11-12 December 2017, the Reserve Bank of New Zealand will host a conference on housing, household debt and policy. High house prices and modest income growth create significant tensions and distributional issues across generations. Elevated household debt and high house prices, combined with subdued inflation outcomes, also pose a challenge for both monetary and macroprudential policy.
We invite submission of theoretical and empirical papers that explore the dynamics of housing markets and household debt; the implications of housing cycles for the macro economy; and the consequences of those dynamics for monetary and macropudential policy. Questions of interest may include:
- What drives residential investment and household mortgage choice?
- How do developments in house prices affect economic inequality?
- How do housing market dynamics influence consumption and saving behaviour?
- How does household debt and/or leverage affect mortgage default risk and financial stability?
- How does household debt influence the transmission of monetary policy?
- What is the optimal mix of monetary, macroprudential and other policies?
- And should distributional considerations influence monetary and macroprudential policymaking?
Christopher Carroll (Johns Hopkins University)
Greg Kaplan (University of Chicago)
Dirk Krueger (University of Pennsylvania)
Please submit papers to firstname.lastname@example.org by 1 August 2017.
Acceptances will be communicated by 30 August 2017.
Paper submission: 1 August 2017.
Acceptance: 30 August 2017.
Final papers due: 19 November 2017.
Conference: 11-12 December 2017