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Homeownership and Entrepreneurship: The Role of Mortgage Debt and Commitment
Bracke, Philippe; Hilber, Christian; Silva, Olmo - 2014
We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … homeowners start a business; and (ii) the negative relation between mortgage debt and entrepreneurship is more pronounced when … income volatility is higher. Our model further predicts that the relation between housing wealth and entrepreneurship is …
Persistent link: https://www.econbiz.de/10010435738
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The effect of personal financing disruptions on entrepreneurship
Hanspal, Tobin - 2016
I show that disruptions to personal sources of financing, aside from commercial lending supply shocks, impair the survival and growth of small businesses. Entrepreneurs holding deposit accounts at retail banking institutions that defaulted following the financial crisis reduce personal borrowing...
Persistent link: https://www.econbiz.de/10011575129
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Temptation and commitment: Understanding the demand for illiquidity
Kovacs, Agnes; Moran, Patrick - 2019
households are tempted to consume their liquid wealth but can use illiquid housing as a savings commitment device. The importance … of temptation and commitment is identified using data on consumption, liquid assets, and housing wealth over the life … need for commitment. Preference for illiquidity has important implications for the consumption response to unexpected …
Persistent link: https://www.econbiz.de/10012265316
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Rushing into American dream? House prices, timing of homeownership, and adjustment of consumer credit
Agarwal, Sumit; Hu, Luojia; Huang, Xing - 2013
homeownership as a function of credit constraints and expectations of future house price. Our panel data allows us to track …
Persistent link: https://www.econbiz.de/10010352190
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Mortgage Market Maturity and Homeownership Inequality among Young Households: A Five-Country Perspective
Bicakova, Alena; Sierminska, Eva M. - 2008
This paper uses the newly constructed Luxembourg Wealth Study data to document cross-country variation in homeownership … rates and the homeownership-income inequality among young households in Finland, Germany, Italy, the UK and the US, and … relate it to cross-country differences in mortgage market maturity. We find that aside from Italy, homeownership rates and …
Persistent link: https://www.econbiz.de/10011600736
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Echoes of rising tuition in students' borrowing, educational attainment, and homeownership in post-recession America
Bleemer, Zachary; Brown, Meta; Lee, Donghoon; Strair, … - 2017
-percentage-point decline in homeownership for 28-to-30-year-olds over 2007-15 for these same nine cohorts. The results suggest that states that …
Persistent link: https://www.econbiz.de/10011942765
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Mortgage market maturity and homeownership inequality among young households: a five-country perspective
Bicakova, Alena; Sierminska, Eva M. - 2008
This paper uses the newly constructed Luxembourg Wealth Study data to document cross-country variation in homeownership … rates and the homeownership-income inequality among young households in Finland, Germany, Italy, the UK and the US, and … relate it to cross-country differences in mortgage market maturity. We find that aside from Italy, homeownership rates and …
Persistent link: https://www.econbiz.de/10010276611
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Borrowing constraints, own labour and homeownership: Does it pay to paint your walls?
Lindner, Peter; Mathä, Thomas; Pulina, Giuseppe; … - 2020
Using a dedicated set of questions in the 2014 Luxembourg Household Finance and Consumption Survey (LU-HFCS), we show that a substantial share of households contributes their own labour to the acquisition of their main residence. These contributions help households faced with credit constraints,...
Persistent link: https://www.econbiz.de/10012422136
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Housing choices and labor income risk
Jansson, Thomas - 2013
I show that individuals whose unemployment risk tends to increase more when local home prices fall optimally invest less in owner-occupied housing. Using a unique, Swedish register-based database, I find that a one standard deviation increase in the covariance between individually estimated...
Persistent link: https://www.econbiz.de/10010427085
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Household debt and aging in Japan
Horioka, Charles; Niimi, Yoko - 2019
In this paper, we analyze the borrowing behavior of Japanese households in comparison to the other Group of Seven (G7) countries and also broken down by the age group of the household head. We find that pre-retirement households (households with a head in the 50-59 age group) in Japan do not...
Persistent link: https://www.econbiz.de/10012430021