Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging
Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging
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Full title
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Publisher
Nashville: American Economic Association
Journal title
Language
English
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Publication information
Publisher
Nashville: American Economic Association
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Scope and Contents
Contents
Exploiting variation in the timing of resets of adjustable-rate mortgages (ARMs), we find that a sizable decline in mortgage payments (up to 50 percent) induces a significant increase in car purchases (up to 35 percent). This effect is attenuated by voluntary deleveraging. Borrowers with lower incomes and housing wealth have significantly higher ma...
Alternative Titles
Full title
Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging
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Record Identifier
TN_cdi_proquest_journals_1955466986
Permalink
https://devfeature-collection.sl.nsw.gov.au/record/TN_cdi_proquest_journals_1955466986
Other Identifiers
ISSN
0002-8282
E-ISSN
1944-7981
DOI
10.1257/aer.20141313
