This paper analyses the effects of borrower-specific credit constraints on macroeconomic outcomes in an agent-based housing market model, calibrated using U.K. household survey data. We apply different Loan-to-Value (LTV) caps for different types of agents: first-time-buyers, second and...

This paper presents a complex, modular, 1:1 scale model of the Hungarian residential housing market. All the 4 million house‐ holds and their relevant characteristics are represented based on empirical micro‐level data coming from the Central Credit Information System, the Pension Payment...