In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … affect the saving rate. We estimate a Vector Error Correction (VEC) model including the saving rate, asset prices, equity … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … affect the saving rate. We estimate a Vector Error Correction (VEC) model including the saving rate, asset prices, equity … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … affect the saving rate. We estimate a Vector Error Correction (VEC) model including the saving rate, asset prices, equity … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …

In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since … affect the saving rate. We estimate a Vector Error Correction (VEC) model including the saving rate, asset prices, equity … withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern …