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Determinants of Distress in the UK Owner-Occupier and Buy-to-Let Mortgage Markets
Lazarov, Vladimir S - 2019
The mortgage market has played a central role in the global financial crisis. One particularly pressing question surrounds the conditions under which mortgage borrowers enter distress, ie get into arrears or default. This paper develops a novel micro dataset from residential mortgage loans which...
Persistent link: https://www.econbiz.de/10012897696
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Competition, Profitability and Financial Leverage
Banal-Estanol, Albert; Siciliani, Paolo; Yoon, Kyoungsoo - 2022
We investigate the relationship between profitability and financial leverage for US listed non-financial corporations …-cost mark-ups notwithstanding high product similarity, the relationship between profitability and financial leverage is negative … finance, whereby firms increase their degree of financial leverage in response to profitability improvements. Not only do …
Persistent link: https://www.econbiz.de/10013297000
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Changing Supply Elasticities and Regional Housing Booms
Aastveit, Knut Are - 2020
Recent developments in US house prices mirror those of the 1996–2006 boom, but the recovery in construction activity has been weak. Using data for 254 US metropolitan areas, we show that housing supply elasticities have fallen markedly in recent years. Consistent with this, we find that...
Persistent link: https://www.econbiz.de/10012843886
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Simple Banking : Profitability and the Yield Curve
Alessandri, Piergiorgio - 2012
How does bank profitability vary with interest rates? We present a model of a monopolistically competitive bank subject … trading book. In the long run, both level and slope of the yield curve contribute positively to profitability. In the short …
Persistent link: https://www.econbiz.de/10013104541
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Competition for Retail Deposits Between Commercial Banks and Non-Bank Operators : A Two-Sided Platform Analysis
Siciliani, Paolo - 2018
Commercial banks' mainstream business model, which is reliant on a stable supply of retail deposits, continues to be challenged by new and innovative sources of non-bank competition. This paper examines the implications of one such source: a substitute for commercial banks' personal and saving...
Persistent link: https://www.econbiz.de/10012910006
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Competition for Retail Deposits between Commercial Banks and Non-Bank Operators : A Two-Sided Platform Analysis
Siciliani, Paolo - 2018
Commercial banks' mainstream business model, which is reliant on a stable supply of retail deposits, continues to be challenged by new and innovative sources of non-bank competition. This paper examines the implications of one such source: a substitute for commercial banks' personal and saving...
Persistent link: https://www.econbiz.de/10012917957
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Switching Costs in the Market for Personal Current Accounts : Some Evidence for the United Kingdom
Gondat-Larralde, Céline - 2011
This paper provides an analysis of the competitive process in the market for personal current accounts in the United Kingdom. Using survey data, we first describe some stylised developments in this market over our sample period (1996-2001). We find a gradual change in the distribution of market...
Persistent link: https://www.econbiz.de/10012714616
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Housing Consumption and Investment : Evidence from Shared Equity Mortgages
Benetton, Matteo - 2019
Academics have proposed hybrid products with equity features for the financing of housing. In spite of their risk-sharing benefits these products have not become mainstream. This paper studies an important exception, a UK government scheme which in the five years since its inception has provided...
Persistent link: https://www.econbiz.de/10012872111
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How Much Do Investors Pay for Houses?
Bracke, Philippe - 2015
In 2013 buy-to-rent investors — referred to as buy-to-let (BTL) in the United Kingdom — accounted for 13% of all UK mortgage-funded housing transactions and for an even greater fraction of non-mortgage sales. This paper studies the behaviour of BTL investors using 2009-14 micro data....
Persistent link: https://www.econbiz.de/10013015114
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History Dependence in the Housing Market
Bracke, Philippe - 2018
Using data on the universe of housing transactions in England and Wales over a 20-year period, we document a robust pattern of history dependence in housing markets. Sale prices and selling propensities are affected by house prices prevailing in the period in which properties were previously...
Persistent link: https://www.econbiz.de/10012935126