Brueckner, Jan K; Follain, James R - In: The Review of Economics and Statistics 70 (1988) 1, pp. 93-102
This paper estimates an empirical model of the choice between adjustable- and fixe d-rate mortgages using a large national database compiled by the Nat ional Association of Realtors. The explanatory variables in the probi t choice equation include borrower characteristics, regional dummies, the...