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grew. They were more likely to use consumer debt, partly to catch up with richer new peers. We find no signs of abrupt …
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-constrained households initially use more than 70% of the extra liquidity generated by mortgage rate reductions to repay credit card debt-- a …
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This paper investigates the impact of lower mortgage rates on household balance sheets and other economic outcomes during the housing crisis. We use proprietary loan-level panel data matched to consumer credit records using borrowers' Social Security numbers, which allows for accurate...
Persistent link: https://www.econbiz.de/10013046195
-constrained households initially use more than 70% of the extra liquidity generated by mortgage rate reductions to repay credit card debt-- a …
Persistent link: https://www.econbiz.de/10012458104
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participated immediately, were as likely to use unfamiliar risky securities as West Germans, and more likely to use consumer debt …
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