Quantifying borrowing constraints and precautionary savings
نویسندگان
چکیده
منابع مشابه
Collateralized Borrowing: Illiquid Assets and Households’ Precautionary Savings Motive
Between 2000 and 2006 house prices rose more than fifty percent in real terms. Over that same period households’ mortgage and home equity debt relative to income shot up. Anecdotal and empirical evidence suggest that households accessed the equity in their homes to fund current consumption. Little if any theoretical work, however, has examined the relationship between household consumption beha...
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ژورنال
عنوان ژورنال: Review of Economic Dynamics
سال: 2006
ISSN: 1094-2025
DOI: 10.1016/j.red.2006.01.002