Mortgages and Financial Expectations: A Household-Level Analysis
AbstractWe contribute to the literature on household mortgage debt by exploring one particular influence on mortgage debt at the household level, namely the financial expectations of the individuals within the household. Our theoretical model predicts a positive association between the quantity of mortgage debt and optimistic financial expectations. Our empirical findings based on household level data provide convincing support for our theoretical priors in that optimistic financial expectations are positively associated with the level of outstanding mortgage debt.
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Bibliographic InfoArticle provided by Southern Economic Association in its journal Southern Economic Journal.
Volume (Year): 74 (2008)
Issue (Month): 3 (January)
Other versions of this item:
- Sarah Brown & Gaia Garino & Karl Taylor, 2005. "Mortgages and Financial Expectations: A Household Level Analysis," Discussion Papers in Economics 05/9, Department of Economics, University of Leicester, revised Dec 2006.
- D18 - Microeconomics - - Household Behavior - - - Consumer Protection
- D84 - Microeconomics - - Information, Knowledge, and Uncertainty - - - Expectations; Speculations
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
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- Sarah Brown & Karl Taylor, 2011.
"Household finances and the 'Big Five' personality traits,"
2011025, The University of Sheffield, Department of Economics.
- Brown, Sarah & Taylor, Karl, 2011. "Household Finances and the 'Big Five' Personality Traits," IZA Discussion Papers 6191, Institute for the Study of Labor (IZA).
- Sarah Brown & Karl Taylor, 2008. "Expectations, Reservation Wages And Employment: Evidence From British Panel Data," Working Papers 2008007, The University of Sheffield, Department of Economics, revised May 2008.
- Brown, Sarah & Ortiz-Nuñez, Aurora & Taylor, Karl, 2011.
"What will I be when I grow up? An analysis of childhood expectations and career outcomes,"
Economics of Education Review,
Elsevier, vol. 30(3), pages 493-506, June.
- Sarah Brown & John Sessions & Karl Taylor, 2004. "What Will I Be When I Grow Up? An Analysis of Childhood Expectations and Career Outcomes," Discussion Papers in Economics 05/2, Department of Economics, University of Leicester.
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