Motivations for Equity Borrowing: A Welfare-switching Effect
During the early 2000s, mortgage market innovation together with home price appreciation increased the scope for mortgage equity withdrawal. From a macroeconomic perspective, this proved to be an important transmission mechanism for the wealth (particularly collateral) effects of housing. Microecono...
| Main Authors: | , , , |
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| Format: | Journal Article |
| Published: |
Hindawi Publishing Corporation
2013
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| Online Access: | http://hdl.handle.net/20.500.11937/32526 |