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La demanda por crédito hipotecario en un sistema con índices duales


  • Gonzalo Castañeda

    (Profesor titular, Departamento de Economía, Universidad de las Américas, Puebla. Puebla, Pue. Mexico.)


In this paper an explanation is given of the observed interest rate inelasticity for mortgage demand between 1989 and 1993 in Mexico. The Dual Index Mortgages offered many individuals access to credit and the possibility of having their own housing, with relatively small installments. These mortgages allowed greater flexibility in the intertemporal choice of consumption, and hence individuals became indifferent to certain changes in interest rates.

Suggested Citation

  • Gonzalo Castañeda, 1995. "La demanda por crédito hipotecario en un sistema con índices duales," Economía Mexicana NUEVA ÉPOCA, , vol. 0(2), pages 301-312, July-Dece.
  • Handle: RePEc:emc:ecomex:v:4:y:1995:i:2:p:301-312

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    References listed on IDEAS

    1. Lawrence H. Summers, 1991. "Panel discussion: price stability ; How should long-term monetary policy be determined?," Proceedings, Federal Reserve Bank of Cleveland, pages 625-631.
    2. William Poole, 1969. "Optimal choice of monetary policy instruments in a simple stochastic macro model," Special Studies Papers 2, Board of Governors of the Federal Reserve System (U.S.).
    3. Bertola, Giuseppe & Caballero, Ricardo J, 1992. "Target Zones and Realignments," American Economic Review, American Economic Association, vol. 82(3), pages 520-536, June.
    4. Ben Bernanke & Frederic Mishkin, 1992. "Central Bank Behavior and the Strategy of Monetary Policy: Observations from Six Industrialized Countries," NBER Chapters,in: NBER Macroeconomics Annual 1992, Volume 7, pages 183-238 National Bureau of Economic Research, Inc.
    5. William Poole, 1970. "Optimal Choice of Monetary Policy Instruments in a Simple Stochastic Macro Model," The Quarterly Journal of Economics, Oxford University Press, vol. 84(2), pages 197-216.
    6. Michele Lloyd, 1992. "The New Zealand approach to central bank autonomy," Reserve Bank of New Zealand Bulletin, Reserve Bank of New Zealand, vol. 55, Septemebe.
    7. Summers, Lawrence, 1991. "How Should Long-Term Monetary Policy Be Determined? Panel Discussion," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 23(3), pages 625-631, August.
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