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dc.contributor.authorBesley, Timothyen
dc.contributor.authorMeads, Neilen
dc.contributor.authorSurico, Paoloen
dc.date.accessioned2010-11-08-
dc.date.accessioned2011-10-24T07:51:06Z-
dc.date.available2011-10-24T07:51:06Z-
dc.date.issued2010-
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
dc.language.isoengen
dc.publisher|aBank of England, External Monetary Policy Committee Unit |cLondonen
dc.relation.ispartofseries|aExternal MPC Unit Discussion Paper |x29en
dc.subject.jelD10en
dc.subject.jelE21en
dc.subject.jelG21en
dc.subject.ddc330en
dc.subject.keywordmortgage individual dataen
dc.subject.keywordcredit supplyen
dc.subject.keywordrisk pricingen
dc.subject.keywordheterogeneous effectsen
dc.subject.keywordinstrumental variableen
dc.subject.stwImmobilienmarkten
dc.subject.stwHypotheken
dc.subject.stwKreditgeschäften
dc.subject.stwRisikopräferenzen
dc.subject.stwGrundsteueren
dc.subject.stwSteuerreformen
dc.subject.stwNachfrageen
dc.subject.stwGroßbritannienen
dc.titleRisk heterogeneity and credit supply: Evidence from the mortgage market-
dc.typeWorking Paperen
dc.identifier.ppn638651905en
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen

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