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We propose a life-cycle model of the housing market with a property ladder and a credit constraint. We focus on equilibria which replicate the facts that credit constraints delay some households' first home purchase and force other households to buy a home smaller than they would like. The model...
Persistent link: https://www.econbiz.de/10010440424
We propose a life-cycle model of the housing market with a property ladder and a credit constraint. We focus on equilibria which replicate the facts that credit constraints delay some households' first home purchase and force other households to buy a home smaller than they would like. The model...
Persistent link: https://www.econbiz.de/10010343962
This paper assesses the linkages between economic activity, foreign reserve, money, credit, inflation and house prices in China over last decade. The analysis is based on a structural VAR estimated using monthly data spanning the period June 2001-December 2011. We find important responses of...
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In 2005, mortgage interest, capital deductions and insurance premiums (MICPD) were assembled into one single deduction … Finance and Consumption Survey. The mortgage amount, the mortgage maturity, the interest rate and the house price are … estimated simultaneously using a 3-SLS approach. The results suggest that the mortgage deduction does not result in more …
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