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We model mortgage refinancing as a bargaining game involving the borrowing household, the incumbent lender, and an … set containing the population of mortgages in Belgium. In particular, households' refinancing propensities are positively …
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On several occasions during the period 2001-2003, the European Central Bank (ECB) decided to deviate from its "neutral" benchmark allotment rule, with the effect of not alleviating a temporary liquidity shortage in the banking system. This is remarkable because it implied the possibility of...
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