Not logged in.
Quick Search - Contribution
Contribution Details
| Type | Journal Article |
| Scope | Discipline-based scholarship |
| Title | The causal effect of house prices on mortgage demand and mortgage supply: Evidence from Switzerland |
| Organization Unit | |
| Authors |
|
| Item Subtype | Original Work |
| Refereed | Yes |
| Status | Published in final form |
| Language |
|
| Journal Title | Journal of housing economics |
| Publisher | Elsevier |
| Geographical Reach | international |
| ISSN | 1051-1377 |
| Volume | 30 |
| Page Range | 1 - 22 |
| Date | 2015 |
| Abstract Text | We identify the causal effect of house prices on mortgage demand and supply in Switzerland by exploiting exogenous shocks to immigration and thereby to house prices. Detailed micro data on individual requests and offers allow to close down possible other channels. We find that 1% higher house prices imply 0.52% higher mortgage amounts. The full partial correlation of 0.78% suggests also positive feedback from mortgage volumes to house prices. While we find higher house prices to increase mortgage demand, banks respond if anything with fewer offers and higher rates, especially later in the boom and for highly leveraged households. |
| Digital Object Identifier | 10.1016/j.jhe.2015.07.001 |
| Other Identification Number | merlin-id:16126 |
| PDF File |
Download from ZORA
|
| Export |
BibTeX
EP3 XML (ZORA)
|