search and matching model where trading frictions in the mortgage, housing and labour markets interact with each other … greater chance of getting a mortgage to buy a home. As a result, the positive correlation between the homeownership and …. Precisely, the employment status affects the probability to get a mortgage. In turn, the granting or not of the mortgage affects …

simulation suggests that the amortization scheme known as SAC for the mortgage system is a better choice in nearly two-thirds of … should acknowledge this level of uncertainty by including explicit mortgage renegotiations within shorter periods. …