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...

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书目详细资料
主要作者: Chen, Hui
其他作者: Sloan School of Management
格式: 文件
语言:English
出版: Wiley 2021
在线阅读:https://hdl.handle.net/1721.1/129710