We use the Italian Survey of Household Income and Wealth, a rather unique dataset with a long time dimension of panel …

We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … housing tenure where homeowners commit to mortgage payments. Our model predicts that, as long as mortgage rates exceed the … rate of interest on liquid wealth: (i) mortgage debt, by amplifying risk aversion, diminishes the likelihood that …

analyze the role of three specific policies which discourage homeownership in Germany: an extensive social housing sector with … homeownership rate. At the same time, household welfare would be reduced by moving to a policy regime with low transfer taxes and … mortgage interest tax deductions, but it would improve in the absence of social housing, in particular when coupled with …

We study the interplay between tenure decisions, stock market investment and the public social security system. Housing … risks in retirement. Our life cycle model captures these links in order to explain why homeownership in Germany is so low …. Our simulation results indicate that the public long-term care as well as the pension system reduce the homeownership rate …

We quantify the housing-consumption channel in mortgage demand according to which households borrow more following …-prices of 0.82. Counterfactual analysis of the general-equilibrium of housing and mortgage markets shows that, sans housing … house-price increases since housing and non-housing consumption are imperfect substitutes. To identify this channel, we take …

. The contributions of credit, housing and interest rates changes are quantitatively small. …

and endogeneity into account. In our preferred specifications both home equity and the household's amount of mortgage debt … period 2006-2012. Using a large administrative dataset at the household level we estimate how home equity and the outstanding … mortgage amount influence the share of liquid assets held in stocks. We apply different econometric methods to take selection …