search query: @author Jappelli, T. / total: 14
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| Author: | Chiuri, M.C. Jappelli, T. |
| Title: | Financial market imperfections and home ownership: A comparative study |
| Journal: | European Economic Review
2003 : OCT, VOL. 47:5, p. 857-875 |
| Index terms: | Finance Markets Microeconomics Loans Housing OECD |
| Language: | eng |
| Abstract: | This study explores the determinants of the distribution of owner occupancy rates across age groups using a collection of microeconomic data on 14 OECD countries. In most, the survey is repeated over time. This allows us to construct an international dataset, merging data on 39 national household surveys with aggregate data on down payment ratios. There is strong evidence found that the availability of mortgage finance as measured by down payment ratios affects the distribution of owner occupancy rates across age groups, especially at the young end. The results are consistent with previous theoretical models and have important implications for the debate on the relation between saving and growth. |
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