Details about Fergus Cumming

Access statistics for papers by Fergus Cumming.

Last updated 2024-07-11. Update your information in the RePEc Author Service.

Short-id: pcu167

Working Papers

2023

1. The Distribution of Households' Indebtedness and the Transmission of Monetary Policy
   SciencePo Working papers Main, HAL
   Also in Post-Print, HAL (2023) View citations (2)
   See also Journal Article The Distribution of Households' Indebtedness and the Transmission of Monetary Policy, The Review of Economics and Statistics, MIT Press (2023) View citations (3) (2023)

2020

2. 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.) View citations (5)
   Also in Bank of England working papers, Bank of England (2019) View citations (1)
   See also Journal Article Monetary Policy and Birth Rates: The Effect of Mortgage Rate Pass-Through on Fertility, The Review of Economic Studies, Review of Economic Studies Ltd (2024) View citations (1) (2024)
3. The role of households’ borrowing constraints in the transmission of monetary policy
   Bank of England working papers, Bank of England View citations (2)
   Also in SciencePo Working papers Main, HAL (2019)
   Working Papers, HAL (2019)

2019

4. Mortgage Cash-flows and Employment
   Discussion Papers, Centre for Macroeconomics (CFM) View citations (2)
   See also Journal Article Mortgage cash-flows and employment, European Economic Review, Elsevier (2022) View citations (1) (2022)
5. 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)

2018

6. Mortgages, cash-flow shocks and local employment
   Bank of England working papers, Bank of England View citations (8)

2013

7. Financial Stability Paper No 26: Assessing the adequacy of CCPs' default resources
   Bank of England Financial Stability Papers, Bank of England View citations (6)

Journal Articles

2024

1. Monetary Policy and Birth Rates: The Effect of Mortgage Rate Pass-Through on Fertility
   The Review of Economic Studies, 2024, 91, (1), 229-258 View citations (1)
   See also Working Paper Monetary Policy and Birth Rates: The Effect of Mortgage Rate Pass-Through on Fertility, Finance and Economics Discussion Series (2020) View citations (5) (2020)
2. Understanding the infection severity and epidemiological characteristics of mpox in the UK
   Nature Communications, 2024, 15, (1), 1-12

2023

3. The Distribution of Households' Indebtedness and the Transmission of Monetary Policy
   The Review of Economics and Statistics, 2023, 105, (5), 1304-1313 View citations (3)
   See also Working Paper The Distribution of Households' Indebtedness and the Transmission of Monetary Policy, SciencePo Working papers Main (2023) (2023)
4. The role of vaccination and public awareness in forecasts of Mpox incidence in the United Kingdom
   Nature Communications, 2023, 14, (1), 1-12

2022

5. House prices, the distribution of household debt and the refinancing channel of monetary policy
   Economics Letters, 2022, 212, (C) View citations (6)
6. Mortgage cash-flows and employment
   European Economic Review, 2022, 144, (C) View citations (1)
   See also Working Paper Mortgage Cash-flows and Employment, Discussion Papers (2019) View citations (2) (2019)

2015

7. Mapping the UK financial system
   Bank of England Quarterly Bulletin, 2015, 55, (2), 114-129 View citations (13)