Mortgage payments and household consumption in urban China☆
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DOI: 10.1016/j.econmod.2020.07.008
Abstract: Abstract By exploiting variation both in mortgage payoffs and mortgage interest-rate resets, we find that a decline in mortgage payments induces a significant increase in nondurable goods spending, even when households have substantial amounts of… read more here.
Keywords: consumption urban; mortgage payments; mortgage; consumption ... See more keywords