Household external finance and consumption

This paper uses mortgage data to construct a measure of terms on which households access to externalfinance, and relates it to consumption at both the aggregate and cohort levels. The Household ExternalFinance (HEF) index is based on the spread paid by risky borrowers in the mortgage market. There isevidence that the terms of access to external finance matter more for the consumption of young cohortsin UK data. Results are robust to a wide variety of specifications.[...]

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Year of publication:	2008-10-01
Authors:	Besley, Timothy ; Meads, Neil ; Surico, Paolo
Institutions:	Bank of England <London>
Subject:	Haushalt \| Household \| Verbrauch \| Einleitung \| terms of access \| Außenfinanzierung \| external financing

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Extent:	397312 bytes 47 p. application/pdf
Series:	Bank of England - External MPC Unit Discussion Papers Discussion Paper ; No. 25 (2008)
Type of publication:	Book / Working Paper
Language:	English
ISSN:	1748-6203
Classification:	D10 - Household Behavior and Family Economics. General ; E21 - Consumption; Saving ; G21 - Banks; Other Depository Institutions; Mortgages ; Financial theory ; Consumer behaviour ; Individual Working Papers, Preprints ; No country specification
Source:	USB Cologne (business full texts)

Persistent link: https://www.econbiz.de/10009138498