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After three decades of being relatively constant, the homeownership rate increased over the period 1994 to 2005 to … played changes in demographic factors and innovations in the mortgage market which lessened downpayment requirements. To … generation model with housing. We find that the long-run importance of the introduction of new mortgage products for the …
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residential mortgage lending in Korea. In particular, a discrete tenure choice model is established, based on which effects of … the residential mortgage lending sector of the country experienced a substantial growth during our study period (2006 to …
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