Aron, Janine; Muellbauer, John - Spatial Economics Research Centre, LSE - 2010
This paper presents new models for aggregate UK data on mortgage possessions (foreclosures) and mortgage arrears … forbearance policy by lenders, by common latent variables estimated in a system of equations for arrears and possessions, for … negative equity, based on an average debt to equity ratio, as one of the key drivers of possessions and arrears. A third is the …