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We estimate a structural model of the Irish housing and mortgage markets and isolate the role of demand and supply … factors in each market. We focus on the pre-2004 period during which house prices and mortgage credit exhibited a stable … relationship. We find that mortgage demand is determined by interest rates, income and house price growth while mortgage supply is …
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Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such policies is presented here, and conceptual issues are...
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