Houses as ATMs? Mortgage Refinancing and Macroeconomic Uncertainty
收藏NBER2013-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w19421
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资源简介：
We estimate a structural model of household liquidity management in the presence of long-term mortgages. Households face counter-cyclical idiosyncratic labor income uncertainty and borrowing constraints, which affect optimal choices of leverage, precautionary saving in liquid assets and illiquid
提供机构：
美国国家经济研究局
创建时间：
2013-09-01
