Soyoung Lee - Latest - Bank of Canada
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Bank of Canada RSS Feedsen2024-03-29T14:14:47+00:00The Macroeconomic Effects of Debt Relief Policies During Recessions
https://www.bankofcanada.ca/2023/08/staff-working-paper-2023-48/
A large-scale reduction in mortgage principal can strengthen a recovery, support house prices and lower foreclosures. The nature of the intervention shapes its impact, which rests on how resources are redistributed across households. The availability of bankruptcy on unsecured debt changes the response to large-scale mortgage relief by reducing precautionary savings.2023-08-28T11:39:12+00:00enThe Macroeconomic Effects of Debt Relief Policies During Recessions2023-08-28Business fluctuations and cyclesCredit and credit aggregatesDebt managementHousingStaff Working Paper 2023-48https://www.bankofcanada.ca/wp-content/uploads/2023/08/swp2023-48.pdfThe Macroeconomic Effects of Debt Relief Policies During RecessionsSoyoung LeeAugust 2023EE2E21E3E32E6Persistent Debt and Business Cycles in an Economy with Production Heterogeneity
https://www.bankofcanada.ca/2023/03/staff-working-paper-2023-17/
We examine the role of debt in amplifying and propagating recessions. Firms’ debt adjustment makes recessions deeper but makes expansions gradual. In particular, when the aggregate business leverage is ten percentage points above average, the half-life of the recovery doubles.2023-03-13T13:09:10+00:00enPersistent Debt and Business Cycles in an Economy with Production Heterogeneity2023-03-13Business fluctuations and cyclesFirm dynamicsProductivityStaff Working Paper 2023-17https://www.bankofcanada.ca/wp-content/uploads/2023/03/swp2023-17.pdfStaff Working Paper 2023-17Aubhik KhanSoyoung LeeMarch 2023EE2E23E3E30E32A Generalized Endogenous Grid Method for Default Risk Models
https://www.bankofcanada.ca/2021/03/staff-working-paper-2021-11/
Models with default options are hard to solve. We propose an extension of the endogenous grid method that solves default risk models more efficiently and accurately.2021-03-12T13:14:25+00:00enA Generalized Endogenous Grid Method for Default Risk Models2021-03-12Credit and credit aggregatesCredit risk managementStaff Working Paper 2021-11https://www.bankofcanada.ca/wp-content/uploads/2021/03/swp2021-11.pdfStaff Working Paper 2021-11Youngsoo JangSoyoung LeeMarch 2021CC6C63EE3E37