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Details about Fergus Cumming

Homepage:https://sites.google.com/view/ferguscumming
Workplace:Bank of England, (more information at EDIRC)

Access statistics for papers by Fergus Cumming.

Last updated 2020-02-19. Update your information in the RePEc Author Service.

Short-id: pcu167


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Working Papers

2020

  1. Monetary Policy and Birth Rates: The Effect of Mortgage Rate Pass-Through on Fertility
    Finance and Economics Discussion Series, Board of Governors of the Federal Reserve System (U.S.) Downloads
    Also in Bank of England working papers, Bank of England (2019) Downloads View citations (1)
  2. The role of households’ borrowing constraints in the transmission of monetary policy
    Bank of England working papers, Bank of England Downloads View citations (1)

2019

  1. Mortgage Cash-flows and Employment
    Discussion Papers, Centre for Macroeconomics (CFM) Downloads
  2. The Role of Households' Borrowing Constraints in the Transmission of Monetary Policy This paper investigates how the transmission of monetary policy to the real economy depends on the distribution of household debt. Using an original loan-level dataset covering the universe of UK mortgages, we assess the effect of monetary shocks on aggregate consumption by exploiting time variation in a measure of the proportion of households close to their borrowing constraint. We find that monetary policy is most potent when there is a large share of constrained households. In contrast, we find no evidence that the average level of borrowing relative-to-income of the household sector affects the transmission of monetary policy
    Documents de Travail de l'OFCE, Observatoire Francais des Conjonctures Economiques (OFCE) Downloads

2018

  1. Mortgages, cash-flow shocks and local employment
    Bank of England working papers, Bank of England Downloads View citations (6)

2013

  1. Financial Stability Paper No 26: Assessing the adequacy of CCPs' default resources
    Bank of England Financial Stability Papers, Bank of England Downloads View citations (2)

Journal Articles

2015

  1. Mapping the UK financial system
    Bank of England Quarterly Bulletin, 2015, 55, (2), 114-129 Downloads View citations (6)
 
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