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Non-interest credit rationing in the UK mortgage market
Author(s)
Date Issued
1982-10
Date Available
2009-08-26T14:11:28Z
Abstract
UK data is used to test the hypothesis that non-interest terms adjust to clear the mortgage market when the mortgage rate is sluggish in adjusting to its market equilibrating level. This hypothesis is not supported by the data. An alternative approach is suggested and conjectures that non-interest terms are varied so as to discriminate among borrowers, satisfying some but leaving the market not cleared. Empirical tests offer support for the alternative approach.
External Notes
The binding of this item renders some marginal text unreadable. A hard copy is available in UCD Library at GEN 330.08 IR/UNI
Type of Material
Working Paper
Publisher
University College Dublin. School of Economics
Series
UCD Centre for Economic Research Working Paper Series
No. 4
Subject – LCSH
Mortgage loans--Great Britain
Banks and banking--Great Britain
Mortgage loans--Mathematical models
Language
English
Status of Item
Not peer reviewed
This item is made available under a Creative Commons License
File(s)
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Name
wp82_04.pdf
Size
545.43 KB
Format
Adobe PDF
Checksum (MD5)
2459ee066a24473cb8725b6d0da8646d
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