The Long-Run Relationship between House Prices and Income Reexamined: The Role of Mortgage Interest Deduction and Mortgage Product Innovation
| Autor: | Frank Vastmans, Sven Damen, Erik Buyst |
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| Rok vydání: | 2014 |
| Předmět: | |
| Zdroj: | SSRN Electronic Journal. |
| ISSN: | 1556-5068 |
| DOI: | 10.2139/ssrn.2429264 |
| Popis: | In many countries, house prices are overvalued according to price-to-income ratios. We propose that the borrower’s ability to pay through a mortgage is a long-run house price fundamental and …nd convincing evidence by means of cointegration tests, granger causality, and an elasticity of house prices � |
| Databáze: | OpenAIRE |
| Externí odkaz: |
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