Non-interest credit rationing in the UK mortgage market
|Title:||Non-interest credit rationing in the UK mortgage market||Authors:||Nellis, Joseph G.
|Permanent link:||http://hdl.handle.net/10197/1397||Date:||Oct-1982||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.||Type of material:||Working Paper||Publisher:||University College Dublin. School of Economics||Subject LCSH:||Mortgage loans--Great Britain
Banks and banking--Great Britain
Mortgage loans--Mathematical models
|Language:||en||Status of Item:||Not peer reviewed|
|Appears in Collections:||Economics Working Papers & Policy Papers|
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