This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing … prices, triggering a short run output expansion, mainly due to the wealth effect. Also, with a more permissive policy towards …

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 …

This paper quantitatively accounts for the cyclical dynamics of key macroeconomic housing and mortgage market variables … using a tractable, searchtheoretic model of housing with equilibrium mortgage default. To explain these dynamics, the model …

socio-economic groups? What is the impact of mortgage debt on access to homeownership and wealth accumulation, and on debt … residential mobility? iv) Is there a link between homeownership and wealth inequality? Between inequality in housing wealth and in …This paper produces new evidence and stylised facts on housing, wealth accumulation and wealth distribution, relying on …

Long-term fixed-rate mortgage contracts protect households against interest rate risk, yet most countries have … fixation length tracks the life-cycle decline of credit risk in the mortgage market: the loan-to-value (LTV) ratio decreases … using shorter-term contracts. To quantify demand for long-term contracts, I develop a life-cycle model of optimal mortgage …

This paper studies the Continuous Workout Mortgage (CWM), a two in one product: a fixed rate home loan coupled with … that mortgage values and payments should be linked to housing prices and adjusted downward to prevent negative equity. We … within amortizing mortgage context. We derive new closed-form and new analytical approximation methodologies which apply both …

, and its relationship with mortgage default. We find that lender effort to collect soft information is intertwined with …

The effect of wealth on consumption is an issue of longstanding interest to economists. Analysts believe that … fluctuations in household wealth have driven major swings in economic activity. This paper considers so-called wealth effects - the … impact of changes in wealth on household consumption and the overall macroeconomy. There is an extensive existing literature …