Detail Leverage and House-Price Dynamics in U.S. Cities   Oleh:  Stein, Jeremy C. ; Lamont, Owen Jenis: Article from Bulletin/Magazine Dalam koleksi: The Rand Journal of Economics vol. 30 no. 3 (1999), page 498-514. Topik: leverage; leverage; house - price; cities Ketersediaan Perpustakaan Pusat (Semanggi) Nomor Panggil: RR10.3 Non-tandon: 1 (dapat dipinjam: 0) Tandon: tidak ada     Lihat Detail Induk Isi artikel We use city - level data to analyze the relationship between homeowner borrowing patterns and house-price dynamics. Our principal finding is that in cities where a greater fraction of homeowners are highly leveraged - i. e., have high loan - to - value ratios - house prices react more sensitively to city - specific shocks, such as changes in per - capita income. This finding is consistent with recent theories that emphasize the role of borrowing in shaping the behaviour of asset prices. Opini Anda Klik untuk menuliskan opini Anda tentang koleksi ini! Kembali

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