01997cas a2200313 a 4500 AALejournalIMF022501 230101c9999 xx r poo 0 0eng d 5.00 USD 9798400203107 1018-5941 BD-DhAAL BD-DhAAL Albuquerque, Bruno. Consumption Effects of Mortgage Payment Holidays : Evidence during the COVID-19 Pandemic / Bruno Albuquerque, Alexandra Varadi. Washington, D.C. : International Monetary Fund, 2022. 1 online resource (58 pages) IMF Working Papers <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students We use UK transaction-level data during the Covid-19 pandemic to study whether mortgage payment holidays (PH) can act as a mechanism for smoothing household consumption following negative aggregate shocks. Our results suggest that mortgage PH were accessed by both households with pre-existing financial vulnerabilities and by those with stronger balance sheets, including buy-to-let investors. We also find that the temporary liquidity relief provided by PH allowed liquidity-constrained households to maintain higher annual consumption growth compared to those non-eligible for the policy. Finally, we find that mortgage PH led to higher saving rates for more financially-stable households. Mode of access: Internet Macroeconomics imf Mortgage Payment Holidays imf Personal Finance imf Saving imf Wealth imf Varadi, Alexandra. IMF Working Papers; Working Paper ; No. 2022/044 Full text available on IMF http://elibrary.imf.org/view/journals/001/2022/044/001.2022.issue-044-en.xml IMF e-Library