Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/204663
Authors: 
Billio, Monica
Costola, Michele
Pelizzon, Loriana
Riedel, Max
Year of Publication: 
2019
Series/Report no.: 
SAFE Working Paper No. 261
Abstract: 
In this paper, we investigate the relation between buildings' energy efficiency and the probability of mortgage default. To this end, we construct a novel panel dataset by combining Dutch loan-level mortgage information with provisional building energy ratings that are calculated by the Netherlands Enterprise Agency. By employing the Logistic regression and the extended Cox model, we find that buildings' energy efficiency is associated with lower likelihood of mortgage default. The results hold for a battery of robustness checks. Additional findings indicate that credit risk varies with the degree of energy efficiency.
Subjects: 
Mortgages
Energy Efficiency
Credit Risk
JEL: 
G21
Document Type: 
Working Paper

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