Volltext herunterladen
(707.1 KB)
Zitationshinweis
Bitte beziehen Sie sich beim Zitieren dieses Dokumentes immer auf folgenden Persistent Identifier (PID):
https://nbn-resolving.org/urn:nbn:de:0168-ssoar-238954
Export für Ihre Literaturverwaltung
Testing a Basic Theoretical Model of Mortgage demand on United Kingdom Data
[Zeitschriftenartikel]
Abstract Mortgage demand is a little understood and under researched aspect of the financial behaviour of households. This paper empirically tests the basic results of Brueckner’s model of mortgage demand (Brueckner, 1994) on United Kingdom mortgage market data. The choice of mortgage instrument is used to i... mehr
Mortgage demand is a little understood and under researched aspect of the financial behaviour of households. This paper empirically tests the basic results of Brueckner’s model of mortgage demand (Brueckner, 1994) on United Kingdom mortgage market data. The choice of mortgage instrument is used to identify impatient debt maximisers and patient borrowers who borrow at intermediate levels. Thus the research confirms the conditions under which households will use the largest possible mortgage and the circumstances under which savings are invested in the property. A unique contribution of the work is the estimation of mortgage demand equations corrected for endogenous housing demand, for a single housing finance system, where borrows face different opportunity costs of equity in their owner occupied property, allowing a purer test of the theoretical model.... weniger
Sprache Dokument
Englisch
Publikationsjahr
2006
Seitenangabe
S. 2037-2051
Zeitschriftentitel
Applied Economics, 38 (2006) 17
DOI
https://doi.org/10.1080/00036840500426959
Status
Postprint; begutachtet (peer reviewed)
Lizenz
PEER Licence Agreement (applicable only to documents from PEER project)