Houses as ATMs: Mortgage Refinancing and Macroeconomic Uncertainty
Mortgage refinancing activity associated with extraction of home equity contains a strongly countercyclical component consistent with household demand for liquidity. We estimate a structural model of liquidity management featuring countercyclical idiosyncratic labor income uncertainty, long- and sho...
主要作者: | |
---|---|
其他作者: | |
格式: | 文件 |
语言: | English |
出版: |
Wiley
2021
|
在线阅读: | https://hdl.handle.net/1721.1/129710 |