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We study how a reduction in financial constraints faced by homeowners affects consumption, and in turn employment … registries, and implement a difference-in-differences strategy based on the introduction of a new mortgage product in 2003 to … exogenous shift in consumption, which varies across municipalities and over time, is a strong predictor of the growth in …
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What are the effects of changes in taxation and new types of mortgages on the real economy? - The case of Denmark … during the 00's What are the effects of introducing interest-only, flexible-rate mortgage contracts and a tax-freeze on … financial frictions, and the coexistence of flexible-, fixed-rate and interest-only mortgage contracts. I find that the …
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In this paper, we analyze the borrowing behavior of Japanese households in comparison to the other Group of Seven (G7) countries and also broken down by the age group of the household head. We find that pre-retirement households (households with a head in the 50-59 age group) in Japan do not...
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to survive the crisis. The first phase of the recession led to the largest loss of jobs since the oil crisis in Denmark … is still negative (Statistics Denmark, 2012). Consequently we present an assessment of factors that have been important …
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