| 来源类型 | Discussion paper |
| 规范类型 | 论文 |
| 来源ID | DP7633 |
| DP7633 Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market | |
| Tim Besley; Paolo Surico; Neil Meads | |
| 发表日期 | 2010-01-17 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | This paper uses a unique data set on more than 600,000 mortgage contracts to estimate a credit supply function which allows for risk-heterogeneity. Non-linearity is modeled using quantile regressions. We propose an instrumental variable approach in which changes in the tax treatment of housing transactions are used as an instrument for loan demand. The results are suggestive of considerable risk heterogeneity with riskier borrowers penalized more for borrowing more. |
| 主题 | Financial Economics ; International Macroeconomics |
| 关键词 | Credit supply Heterogeneous effects Instrumental variable. Mortgage individual data Risk pricing |
| URL | https://cepr.org/publications/dp7633 |
| 来源智库 | Centre for Economic Policy Research (United Kingdom) |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/536470 |
| 推荐引用方式 GB/T 7714 | Tim Besley,Paolo Surico,Neil Meads. DP7633 Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market. 2010. |
| 条目包含的文件 | 条目无相关文件。 | |||||
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