scholarly journals House prices and mortgage credit: Empirical evidence for Ireland – An update

2021 ◽  
Author(s):  
Kieran McQuinn ◽  
Keyword(s):  
Empirical Evidence ◽  
House Prices ◽  
Mortgage Credit

scholarly journals HOUSE PRICES AND MORTGAGE CREDIT: EMPIRICAL EVIDENCE FOR IRELAND

2007 ◽  
Vol 75 (1) ◽  
pp. 82-103 ◽  
Author(s):  
TREVOR FITZPATRICK ◽  
KIERAN MCQUINN
Keyword(s):  
Empirical Evidence ◽  
House Prices ◽  
Mortgage Credit

scholarly journals Uncertainty shocks and policymakers’ behavior: evidence from the subprime crisis era

2015 ◽  
Vol 42 (4) ◽  
pp. 578-607 ◽  
Author(s):  
Michael Donadelli
Keyword(s):  
Empirical Evidence ◽  
Design Methodology ◽  
House Prices ◽  
Theoretical Framework ◽  
Subprime Crisis ◽  
Content Type ◽  
Uncertainty Shocks ◽  
The Us ◽  
Lehman Brothers ◽  
The Usa

Purpose – The purpose of this paper is to examine the effects of the 2007-2009 uncertainty shocks on policymakers’ behavior. Design/methodology/approach – Uncertainty shocks in the US credit, financial and production markets are represented by extraordinary events. As in Bloom (2009), these events are associated with significant economic and political shocks (e.g. Lehman Brothers’ collapse). Credit markets uncertainty shocks, which played a crucial role in the aftermath of the house prices collapse in the USA, are first analyzed in a bivariate VAR context, and then, embodied in a simple theoretical framework. Findings – The empirical evidence suggests that the US credit, financial and production markets have been affected by a relative large number of uncertainty shocks (i.e. rare events). In a Brainard’s (1967) uncertainty scenario, it is shown that a bizarre money-liquidity relationship exacerbates the “policymakers’ cautiousness-aggressiveness trade-off.” In addition, the model suggests that a “double” dose of policy, in presence of a global credit crunch, might be useless. Originality/value – This paper improves the existing literature in two main directions. First, it provides novel empirical evidence on the unusual dynamics of the US credit market and its effects on the real economic activity during the crisis. Second, in a very simple theoretical framework accounting for parameter uncertainty, it addresses whether a bizarre money-credit relationship affects policymakers’ behavior (i.e. cautiousness vs aggressiveness).

Mortgages for machinery: credit and industrial investment in pre-World War I Brazil

2014 ◽  
Vol 21 (2) ◽  
pp. 191-212 ◽  
Author(s):  
Gustavo S. Cortes ◽  
Renato L. Marcondes ◽  
Maria Dolores M. Diaz
Keyword(s):  
World War I ◽  
Empirical Evidence ◽  
Credit Market ◽  
World War ◽  
Mortgage Loans ◽  
Data Set ◽  
Industrial Firms ◽  
Mortgage Credit ◽  
The City ◽  
Industrial Investment

How could a primitive credit market finance the early industrialisation of an underdeveloped economy? To answer this question, we use a hand-collected data set of mortgage loans raised by industrial firms in the city of São Paulo during the period 1866-1914. These mortgages were debt obligations collateralised by land, improvements, machinery and equipment. We argue that the mortgage credit market was a key source of funding for early industrial investments in Brazil. We find that industries were mainly funded by non-banking and domestic agents. The empirical evidence suggests that mortgages were an important proxy for industrial investment.

Uncertain School Quality and House Prices: Theory and Empirical Evidence

2017 ◽  
Vol 57 (2) ◽  
pp. 167-191 ◽  
Author(s):  
Geoffrey K. Turnbull ◽  
Velma Zahirovic-Herbert ◽  
Minrong Zheng
Keyword(s):  
Empirical Evidence ◽  
School Quality ◽  
House Prices

scholarly journals The Changing Association Between Homeownership and the Transition to Parenthood

Demography ◽  
2021 ◽  
Author(s):  
Valentina Tocchioni ◽  
Ann Berrington ◽  
Daniele Vignoli ◽  
Agnese Vitali
Keyword(s):  
Transition To Parenthood ◽  
House Prices ◽  
Event History ◽  
British Household Panel Survey ◽  
Panel Survey ◽  
Housing Crisis ◽  
The United Kingdom ◽  
Mortgage Credit ◽  
First Child ◽  
Micro Level

Abstract The literature suggests a positive link between homeownership and the transition to parenthood. However, in recent decades, couples' preference for becoming homeowners before having their first child has been undermined by rising housing unaffordability and housing uncertainty. An archetypal example is Britain, where homeownership rates among young adults have fallen substantially as a result of low wages, unemployment, reductions in the availability of mortgage credit, and rising house prices. This situation has produced a housing crisis. Using longitudinal data from the British Household Panel Survey (1991–2008) and the United Kingdom Household Longitudinal Study (2009–2016), we apply multilevel, discrete-time event-history techniques to a sample of women aged 18–42. We investigate whether and how the link between homeownership and entering parenthood has changed in Britain in recent decades. Our findings reveal that in comparison with the 1990s, the likelihood of becoming a parent has declined among homeowners, whereas childbearing rates among private renters have remained stable. Thus, owner-occupiers and private renters have become more similar in terms of their likelihood of entering parenthood. Overall, our findings question the classical micro-level assumption of a positive link between homeownership and transition to parenthood, at least among Britain's “Generation Rent.” These findings are subsequently interpreted in terms of increased housing uncertainty.

scholarly journals Credit Supply and the Price of Housing

2015 ◽  
Vol 105 (3) ◽  
pp. 958-992 ◽  
Author(s):  
Giovanni Favara ◽  
Jean Imbs
Keyword(s):  
Instrumental Variable ◽  
Housing Stock ◽  
House Prices ◽  
Housing Demand ◽  
Housing Supply ◽  
Credit Expansion ◽  
Credit Supply ◽  
Mortgage Credit ◽  
Supply Shock ◽  
Rule Out

An exogenous expansion in mortgage credit has significant effects on house prices. This finding is established using US branching deregulations between 1994 and 2005 as instruments for credit. Credit increases for deregulated banks, but not in placebo samples. Such differential responses rule out demand-based explanations, and identify an exogenous credit supply shock. Because of geographic diver-sification, treated banks expand credit: housing demand increases, house prices rise, but to a lesser extent in areas with elastic housing supply, where the housing stock increases instead. In an instrumental variable sense, house prices are well explained by the credit expansion induced by deregulation. (JEL G21, G28, R21, R31)

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