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Mortgage Market Maturity and Homeownership Inequality among Young Households: A Five-Country Perspective
Bicakova, Alena; Sierminska, Eva M. - Forschungsbasierte Infrastruktureinrichtung … - 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/10005017492
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Mortgage Market Maturity and Homeownership Inequality among Young Households: A Five-Country Perspective
Bicakova, Alena; Sierminska, Eva - DIW Berlin (Deutsches Institut für Wirtschaftsforschung) - 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/10005069036
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Financial literacy and mortgage equity withdrawals
Duca, John V.; Kumar, Anil - In: Journal of Urban Economics 80 (2014) C, pp. 62-75
Mortgage equity withdrawals (MEW) are correlated with covariates consistent with a permanent income framework augmented for credit-constraints. We assess linkages between MEW and financial literacy/education using the Health and Retirement Study (HRS) and Panel Study of Income Dynamics (PSID)....
Persistent link: https://www.econbiz.de/10010753555
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The Cyclical Dynamics of Illiquid Housing, Debt, and Foreclosures
Hedlund, Aaron - Economics Department, University of Missouri - 2014
This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables using a tractable, search-theoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model highlights the importance of liquidity spirals...
Persistent link: https://www.econbiz.de/10010933610
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Illiquidity and its Discontents: Trading Delays and Foreclosures in the Housing Market
Hedlund, Aaron - Economics Department, University of Missouri - 2014
This paper investigates the macroeconomic effects of search risk in the housing market. To do so, I introduce a tractable directed search model of housing with mul- tidimensional buyer and seller heterogeneity. I incorporate this framework in an in- complete markets macroeconomic model with...
Persistent link: https://www.econbiz.de/10010933613
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Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
Laerkholm Jensen, Thais; Leth-Petersen, Søren; Nanda, … - C.E.P.R. Discussion Papers - 2014
We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using individual-level micro data from Denmark. The reform allows us to disentangle the role of credit access from wealth effects that typically confound analyses of the collateral...
Persistent link: https://www.econbiz.de/10011084236
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Rushing into American Dream? House Prices, Timing of Homeownership, and Adjustment of Consumer Credit
Agarwal, Sumit; Hu, Luojia; Huang, Xing - Federal Reserve Bank of Chicago - 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/10010739552
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Homeownership and Entrepreneurship: The Role of Mortgage Debt and Commitment
Bracke, Philippe; Hilber, Christian; Silva, Olmo - CESifo - 2014
We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and …
Persistent link: https://www.econbiz.de/10010948829
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Homeownerhip and Entrepreneurship
Bracke, Philippe; Hilber, Christian; Silva, Olmo - Spatial Economics Research Centre, LSE - 2012
We study the link between homeownership and entrepreneurship by exploiting the longitudinal dimension of the British … after entering homeownership. The negative link can be rationalized by portfolio considerations: leveraged housing …
Persistent link: https://www.econbiz.de/10010543484
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Homeownership and Entrepreneurship: The Role of Commitment and Mortgage Debt
Bracke, Philippe; Hilber, Christian; Silva, Olmo - Institute for the Study of Labor (IZA) - 2013
We study the link between homeownership and entrepreneurship using a model of occupational choice and housing tenure … amplifying risk aversion, diminish the likelihood that homeowners start a business; (ii) the negative link between homeownership …
Persistent link: https://www.econbiz.de/10010665153