firms and their creditors. Due to this, the capital structure of micro firms is biased towards mortgage loans, as it allows … them to avoid bankruptcy by carrying out debt enforcement via mortgage foreclosures, which are cheaper procedures than … (choice of capital structure, choice between bankruptcy and mortgage) of Spanish firms with those of firms from countries …

significantly (especially on durable goods) but outright home-owners do not. While the dollar change in mortgage payments is nearly …

the aggregate response of consumption to interest rates is driven by households with a mortgage. Outright home owners do …