Private Transfers, Borrowing Constraints and the Timing of Homeownership
AbstractThe 1991 Italian Survey of Household Income and Wealth contains detailed information on how respondents acquired their main residence and any other real estate. This information is used to estimate the impact of inter vivos transfers on the saving period required to purchase a house and on the value of the house purchased when households have limited access to mortgage markets. It is found that transfers shorten the saving time by about two years and allow households to purchase considerably larger homes. The results have implications for the debate about the source of the relation between aggregate saving and growth.
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Bibliographic InfoPaper provided by Centre for Studies in Economics and Finance (CSEF), University of Naples, Italy in its series CSEF Working Papers with number 17.
Date of creation: 01 Mar 1999
Date of revision:
Publication status: Published in Journal of Money, Credit and Banking, May 2002, vol. 34, pages 315-339
intergenerational transfers; homeownership; borrowing constraints;
Other versions of this item:
- Guiso, Luigi & Jappelli, Tullio, 2002. "Private Transfers, Borrowing Constraints and the Timing of Homeownership," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 34(2), pages 315-39, May.
- Guiso, Luigi & Jappelli, Tullio, 1998. "Private Transfers, Borrowing Constraints and the Timing of Homeownership," CEPR Discussion Papers 2050, C.E.P.R. Discussion Papers.
- D91 - Microeconomics - - Intertemporal Choice and Growth - - - Intertemporal Consumer Choice; Life Cycle Models and Saving
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
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.:
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