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Another Look at the Capitalization of Interest Subsidies : Evidence from Sweden

Berger, Tommy - 2008

We analyze by far the most extensive data base yet employed in estimating capitalizationquot; of below-market interest rates into asset prices: nearly 300,000 sales of owner-occupied homes inquot; Sweden from 1981 to 1993 with 40,000 including government subsidized interest rates. Ourquot;...

Persistent link: https://www.econbiz.de/10012774912

The Benefits of the Home Mortgage Interest Deduction

Glaeser, Edward L.; Shapiro, Jesse M. - 2021

the deduction rests on social benefits from housing consumption and homeownership. There is little evidence suggesting … large externalities from the level of housing consumption, but there appear to be externalities from homeownership …. Externalities from living around homeowners are far too small to justify the deduction. Externalities from homeownership are larger …

Persistent link: https://www.econbiz.de/10013227870

Mortgage Design in an Equilibrium Model of the Housing Market

Guren, Adam M. - 2018

How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with aggregate shocks, long-term mortgages, and an...

Persistent link: https://www.econbiz.de/10012923712

The mortgage rate conundrum

Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2017

Persistent link: https://www.econbiz.de/10011740930

The Mortgage Rate Conundrum

Justiniano, Alejandro - 2017

We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following the end of the Federal Reserve expansionary cycle in June 2003, mortgage rates failed to rise according to their historical relationship with Treasury yields, leading to...

Persistent link: https://www.econbiz.de/10012948080