We quantify the housing-consumption channel in mortgage demand according to which households borrow more following … a structural approach to mortgage demand and supply, exploiting exogenous variation in house-price growth and a unique … dataset with matched transactionprice and mortgage information. We estimate an elasticity of mortgage borrowing to house …

We quantify the housing-consumption channel in mortgage demand according to which households borrow more following … a structural approach to mortgage demand and supply, exploiting exogenous variation in house-price growth and a unique … dataset with matched transaction-price and mortgage information. We estimate an elasticity of mortgage borrowing to house …

mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the … that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets …. Particularly important in this regard is the degree of mortgage market “completeness” -- i.e. the extent to which the market is …

mortgage markets. The paper focuses specifically on: the transmission channel from housing wealth to consumption and on the … that the strongest impact on consumption is in countries that have large, efficient and responsive mortgage markets …. Particularly important in this regard is the degree of mortgage market “completeness” -- i.e. the extent to which the market is …