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Systematic mistakes in the mortgage market and lack of financial sophistication
Agarwal, Sumit; Ben-David, Itzhak; Yao, Wenxiong - 2016
borrower types and provides better pricing. We test the effectiveness of a specific set of contracts in the mortgage market …: mortgage points. Points allow borrowers to exchange an upfront amount for a decrease in the mortgage rate. We document that, on … overestimate how long they will stay with the mortgage …
Persistent link: https://www.econbiz.de/10011962222
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Financial Literacy and Mortgage Credit : Evidence from the Recent Mortgage Market Crisis
An, Xudong - 2015
We use a novel approach to calculate individual “financial literacy score” for a large set of California mortgage … borrowers and then investigate the relation between financial literacy and mortgage outcomes. We find borrowers with low … are more likely to default. Our estimates show that financial literacy is economically significant where mortgage outcomes …
Persistent link: https://www.econbiz.de/10013019242
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Financial fragility and financial stress during the COVID-19 crisis : evidence from Colombian households
Cardona-Montoya, Raúl Armando; Cruz, Vivian; Arturo … - In: Journal of economics, finance & administrative science 27 (2022) 54, pp. 376-393
Purpose - Our findings indicate that workers with more financial education were more prepared to face the negative effects on their finances from COVID. This ability reduces the probability of becoming financially fragile and experiencing financial stress. Design/methodology/approach - The...
Persistent link: https://www.econbiz.de/10014339154
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When Trading is Hazardous to Your Wealth : Financial Literacy, Gender, and Stock Selling During the 08/09 Financial Crisis
Schwarz, Milena - 2018
We study the motivations for stock selling in a context where this was (at least from anex-post perspective) hazardous to investors' wealth. Making use of a unique feature of theCognitive Economics Study (CogEcon) that allows us to elicit domain-specific stock literacy andcorresponding...
Persistent link: https://www.econbiz.de/10012931617
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Financial literacy for financial resilience : evidence from Cyprus during the pandemic period
Andreou, Panayiotis C.; Anyfantaki, Sofia; Atkinson, Adele - 2023
This study takes Cyprus as a case country to examine the role of financial literacy for financial resilience in the pandemic period. Responses to the survey questions to assess the level of financial literacy show that in 2021 less than 4 out of 10 respondents had a good financial knowledge...
Persistent link: https://www.econbiz.de/10014351441
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Financial Literacy for Financial Resilience : Evidence From Cyprus During the Pandemic Period
Andreou, Panayiotis C.; Anyfantaki, Sofia; Atkinson, Adele - 2023
This study takes Cyprus as a case country to examine the role of financial literacy for financial resilience in the pandemic period. Responses to the survey questions to assess the level of financial literacy show that in 2021 less than 4 out of 10 respondents had a good financial knowledge...
Persistent link: https://www.econbiz.de/10014258560
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Mortgages denominated in domestic and foreign currencies : simple models
Király, Júlia; Simonovits, András - 2015
After the short temporary popularity of foreign currency denominated (FXD) loans, during the Great Financial and Economic Recession (2007- 2013), the burden of these loans has become unaffordable for a lot of borrowers in East Central Europe. We have designed a family of simple models to compare...
Persistent link: https://www.econbiz.de/10010481775
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Mortgage Debt and Household Deleveraging : Accounting for the Decline in Mortgage Debt Using Consumer Credit Record Data
Bhutta, Neil - 2012
. From 2009:Q3 to 2011:Q3, aggregate household debt declined by about $1.5 trillion in real terms, with mortgage debt falling … individual credit records to better understand why mortgage debt has declined. I decompose changes in aggregate mortgage debt … over two-year periods spanning the past decade into inflows (from individuals whose mortgage debt increases during a given …
Persistent link: https://www.econbiz.de/10013106986
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Mortgage Debt and Household Deleveraging : Accounting for the Decline in Mortgage Debt Using Consumer Credit Record Data
Bhutta, Neil - 2012
. From 2009:Q3 to 2011:Q3, aggregate household debt declined by about $1.5 trillion in real terms, with mortgage debt falling … individual credit records to better understand why mortgage debt has declined. I decompose changes in aggregate mortgage debt … over two-year periods spanning the past decade into inflows (from individuals whose mortgage debt increases during a given …
Persistent link: https://www.econbiz.de/10013108731
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Disentangling the Mortgage Arrears Crisis : The Role of the Labour Market, Income Volatility and Housing Equity
McCarthy, Yvonne - 2015
Despite various efforts to address the mortgage arrears crisis, arrears remain at an elevated level. Designing policies … overcome such issues. Specifically, using a combination of administrative loan-level data and a detailed survey of mortgage … holders, we assess the role of the labour market, income volatility and housing equity in the mortgage arrears crisis. The …
Persistent link: https://www.econbiz.de/10013031531