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dc.contributor.authorBesley, Timothyen_US
dc.contributor.authorMeads, Neilen_US
dc.contributor.authorSurico, Paoloen_US
dc.date.accessioned2010-11-08en_US
dc.date.accessioned2011-10-24T07:51:06Z-
dc.date.available2011-10-24T07:51:06Z-
dc.date.issued2010en_US
dc.identifier.urihttp://hdl.handle.net/10419/50645-
dc.description.abstractThis paper uses a unique data set on more than 600,000 mortgage contracts to estimate a credit supply function which allows for risk-heterogeneity. Non-linearity is modelled using quantile regressions. We propose an instrumental variable approach in which changes in the tax treatment of housing transactions are used as an instrument for loan demand. The results are suggestive of considerable risk heterogeneity with riskier borrowers penalised more for borrowing more.en_US
dc.language.isoengen_US
dc.publisherBank of England, Monetary Policy Committee Londonen_US
dc.relation.ispartofseriesExternal MPC unit discussion paper 29en_US
dc.subject.jelD10en_US
dc.subject.jelE21en_US
dc.subject.jelG21en_US
dc.subject.ddc330en_US
dc.subject.keywordmortgage individual dataen_US
dc.subject.keywordcredit supplyen_US
dc.subject.keywordrisk pricingen_US
dc.subject.keywordheterogeneous effectsen_US
dc.subject.keywordinstrumental variableen_US
dc.subject.stwImmobilienmarkten_US
dc.subject.stwHypotheken_US
dc.subject.stwKreditgeschäften_US
dc.subject.stwRisikopräferenzen_US
dc.subject.stwGrundsteueren_US
dc.subject.stwSteuerreformen_US
dc.subject.stwNachfrageen_US
dc.subject.stwGroßbritannienen_US
dc.titleRisk heterogeneity and credit supply: Evidence from the mortgage marketen_US
dc.typeWorking Paperen_US
dc.identifier.ppn638651905en_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:External MPC Unit Discussion Papers, Bank of England

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