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DC Field | Value | Language |
---|---|---|
dc.contributor.author | Caporale, GM | - |
dc.contributor.author | Costantini, M | - |
dc.contributor.author | Paradiso, A | - |
dc.date.accessioned | 2013-01-07T10:56:50Z | - |
dc.date.available | 2013-01-07T10:56:50Z | - |
dc.date.issued | 2012 | - |
dc.identifier.citation | Economics and Finance Working Paper, Brunel University, 12-08, Sep 2012 | en_US |
dc.identifier.uri | http://bura.brunel.ac.uk/handle/2438/7082 | - |
dc.description.abstract | In this paper we examine the role of mortgage equity withdrawal in explaining the decline of the US saving rate, since when house prices rise and mortgage rates are low, homeowners have an incentive to withdraw housing equity and this may affect the saving rate. We estimate a Vector Error Correction (VEC) model including the sav- ing rate, asset prices, equity withdrawal and interest rates and find that indeed mortgage equity withdrawal is a key determinant of the observed saving pattern. | en_US |
dc.language.iso | en | en_US |
dc.publisher | Brunel University | en_US |
dc.subject | Saving rate | en_US |
dc.subject | Mortgage equity withdrawal | en_US |
dc.subject | Asset prices | en_US |
dc.subject | Mortgage rates | en_US |
dc.subject | Vector Error Correction | en_US |
dc.subject | Impulse response analysis | en_US |
dc.title | Re-examining the decline in the US saving rate: The impact of mortgage equity withdrawal | en_US |
dc.type | Article | en_US |
pubs.organisational-data | /Brunel | - |
pubs.organisational-data | /Brunel/Brunel Active Staff | - |
pubs.organisational-data | /Brunel/Brunel Active Staff/School of Social Sciences | - |
pubs.organisational-data | /Brunel/Brunel Active Staff/School of Social Sciences/Economics and Finance | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Social Sciences - URCs and Groups | - |
pubs.organisational-data | /Brunel/University Research Centres and Groups/School of Social Sciences - URCs and Groups/Centre for Empirical Finance | - |
Appears in Collections: | Economics and Finance Publications Dept of Economics and Finance Research Papers |
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