The paper uses Family Expenditure Survey data to estimate a reduced form, cross-section model, of mortgage demand. A double hurdle model is estimated which takes account of potential mortgage rationing. The model contrasts with the usual limited dependent variable model (Tobit) where zero values for purchases are observed and treated as equilibrium observations. The empirical specification allows for the deregulation of financial services in the 1980s, and tests for the impact of this on mortgage demand. The null hypothesis that capital markets are perfect and that rationing was not a binding constraint over the sample under study was rejected. The research seeks to better understand the impact of credit rationing upon household behavior. Copyright 1995 by Blackwell Publishing Ltd
Download Info
To our knowledge, this item is not available for
download. To find whether it is available, there are three
options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page
whether it is in fact available.
3. Perform a search for a similarly titled item that would be
available.
Volume (Year): 57 (1995) Issue (Month): 1 (February) Pages: 43-66 Download reference. The following formats are available: HTML
(with abstract),
plain text
(with abstract),
BibTeX,
RIS (EndNote, RefMan, ProCite),
ReDIF
For technical questions regarding this item, or to correct its listing, contact: (Christopher F. Baum).
Related research
Keywords:
Cited by: (explanations, Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.)