Showing 1 - 10 of 78
How does home ownership affect new business creation? We develop a model of career choice in the presence of liquidity constraints in which shocks to the value of real estate affect the propensity of potential entrepreneurs to borrow against the value of their property. Using a large US...
Persistent link: https://www.econbiz.de/10013082537
consumption path of credit constrained homeowners is determined by the size and timing of payments (mortgage maturity). We exploit … the rapid expansion of mortgage markets during the last decade in Spain and a very detailed survey on household finances … consumption of households headed by an individual with high school responds more to mortgage maturity than to the interest rate …
Persistent link: https://www.econbiz.de/10013130154
increase with the mortgage interest rate. These theoretical results are supported by empirical analysis, which also shows that …
Persistent link: https://www.econbiz.de/10013315282
This paper proposes a framework for monitoring vulnerabilities related to the residential real estate sector in a cross-country context. The framework might be useful for complementing or cross-checking signals available from existing approaches. It takes into account three dimensions of real...
Persistent link: https://www.econbiz.de/10012948367
This paper examines the time varying dispersion in city house price levels across the four biggest euro area countries compared with those in the United States. Using available city-level data over the period 1987-2008, it tests for price convergence and analyses key factors explaining price...
Persistent link: https://www.econbiz.de/10013142991
accumulation process, i) homeownership, ii) housing value appreciation and iii) intergenerational transfers. We show that these … particular in homeownership rates and house price dynamics, are important for explaining wealth differences across euro area …
Persistent link: https://www.econbiz.de/10013054675
Our paper uses credit registry data for the euro area to examine how the banking system transmits asset price shocks to credit via revaluation of collateral and subsequent lending decisions. Specifically we examine banks’ treatment of real estate collateral during the Covid-19 crisis. First we...
Persistent link: https://www.econbiz.de/10014354161
real house price, residential investment and mortgage debt on the two sides of the Atlantic. Then, it presents evidence …
Persistent link: https://www.econbiz.de/10011605207
reduction in homeownership across generations. Lower-income households find it harder to buy housing, and as a result accumulate …
Persistent link: https://www.econbiz.de/10013243806
bankruptcy on account of unpaid medical bills. The bias is further stronger for households with mortgage finance, shorter house …
Persistent link: https://www.econbiz.de/10013126001