Marcus Mølbak Ingholt forsvarer sin ph.d.-afhandling

"Financial Frictions in a Housing Economy: Multiple Credit Constraints, Internal Migration, and Bank Runs" 

Kandidat:

Marcus Mølbak Ingholt

Titel

"Financial Frictions in a Housing Economy: Multiple Credit Constraints, Internal Migration, and Bank Runs". Det vil være muligt før forsvaret at rekvirere en kopi af afhandlingen ved henvendelse til Informationen (26.0.20), Økonomisk Institut.

Tid og sted

28. maj 2019 kl. 9:00, CSS, Øster Farimagsgade 5, 1353 København K, bygning 26, lokale 26.2.21. Af hensyn til kandidaten lukkes dørene præcis.

Bedømmelsesudvalg

Professor Martin Gonzalez-, Økonomisk Institut, Københavns Universitet, Danmark (formand)
Associate Professor Vincent Sterk, University College London, UK
Assistant Professor Roman Sustek, Queen Mary, University of London, UK

Abstract

This thesis consists of three self-contained chapters, written within macroeconomics and macrofinance. The overarching objective of the thesis is to improve our understanding of how asset price and credit fluctuations affect real activity. The thesis examines these issues through both empirical and theoretical methods.

In the first chapter (”Multiple Credit Constraints and Time-Varying Macroeconomic Dynamics”), I study the macroeconomic implications of homeowners simultaneously facing loan-to-value and debt-service-to-income constraints on the amount they may borrow. In the following two chapters, I explore how the housing market and credit issuance affect real activity via labor migration and wage setting (“Not Moving and Not Commuting: Macroeconomic Responses to a Housing Lock-In”), as well as via mortgage defaults and bank runs (“Mortgage Defaults, Bank Runs, and Regulation in a Housing Economy”).