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  1. Household mortgage refinancing decisions are neighbor influenced
    Autor*in: McCartney, William B.; Shah, Avni M.
    Erschienen: [2021]
    Verlag:  Research Department, Federal Reserve Bank of Philadelphia, Philadelphia, PA

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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
    Signatur:
    VS 438
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
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    Auflage/Ausgabe: This version: April 2021
    Schriftenreihe: Working papers / Research Department, Federal Reserve Bank of Philadelphia ; 21, 16 (April 2021)
    Schlagworte: Household Finance; Refinancing; Peer Effects; Neighborhoods
    Umfang: 1 Online-Ressource (circa 33 Seiten), Illustrationen
  2. The role of refinancing in the interest rate pass-through to fixed-rate mortgage contracts
    Autor*in: Hensch, Jonas Ladegaard
    Erschienen: [2021]
    Verlag:  Danmarks Nationalbank, Copenhagen

    In this paper, I study how mortgage refinancing influences the interest rate pass-through to household budgets via fixed-rate mortgage contracts in Denmark. I develop a model based on a state-dependent process of household actions that endogenously... mehr

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    In this paper, I study how mortgage refinancing influences the interest rate pass-through to household budgets via fixed-rate mortgage contracts in Denmark. I develop a model based on a state-dependent process of household actions that endogenously determines household refinancing decisions as a function of their incentives. I show that the model leads to a dynamic equilibrium, in which all households with positive incentives respond (over a period of adjustment) to monetary policy. The dynamic equilibrium formalizes the interest rate pass-through into an analytical expression, which I use to assess the empirical relevance of the model and the contribution of the refinancing channel in that context. I estimate the aggregate response via a cointegrated VAR model in the period 2008-2020, and complement the results with detailed mortgage data at individual household level. I document that the long-run interest rate pass-through is significantly below unity in the years after the financial crisis and subsequently converges towards a level close to unity. I argue that the result is driven by a structural shift in refinancing incentives in the years after the financial crisis. The result can be used to understand the importance of asymmetric effects in the refinancing channel of monetary policy transmission.

     
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Weitere Identifier:
    hdl: 10419/245995
    Schriftenreihe: Working paper / Danmarks Nationalbank ; nr. 174 (12 April 2021)
    Schlagworte: Fixed-rate mortgages; Inaction; Interest rate pass-through; Monetary transmission; Refinancing
    Umfang: 1 Online-Ressource (circa 67 Seiten), Illustrationen
  3. Refinancing inertia in the Irish mortgage market
    Autor*in: Devine, Kenneth
    Erschienen: [2022]
    Verlag:  [Central Bank of Ireland], Dublin, Ireland

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Research technical paper / Central Bank of Ireland ; vol. 2022, no. 05
    Schlagworte: Mortgages; Refinancing; Household Finance
    Umfang: 1 Online-Ressource (circa 35 Seiten), Illustrationen
  4. Essays in finance & health
    Autor*in: Kárpáti, Dániel
    Erschienen: [2023]
    Verlag:  Tilburg University, Tilburg

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    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    VS 181
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    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Dissertation
    Format: Online
    ISBN: 9789056687144
    Weitere Identifier:
    Schriftenreihe: [Dissertation series] / [Center for Economic Research, Tilburg University] ; [nr. 712 (2023)]
    Schlagworte: Health Finance; Life Expectancy; Health Shocks; Antidepressants; Genetic Testing; Job Insecurity; Financial Frictions; Refinancing; Financial Shocks; Credit Crunch; Cancer; Financial Decisions; Economic Behavior; Financial Economics; Employees; Debt; Income; Mental Health; Low Income; Well-Being; Investing; Wealth; Economics
    Umfang: 1 Online-Ressource (circa 205 Seiten), Illustrationen
    Bemerkung(en):

    Dissertation, Tilburg University, 2023
  5. Consumer mistakes and advertising
    the case of mortgage refinancing
    Autor*in: Grundl, Serafin; Kim, You Suk
    Erschienen: May 5, 2017
    Verlag:  Divisions of Research & Statistics and Monetary Affairs, Federal Reserve Board, Washington, D.C.

    Does advertising help consumers to find the products they need or push them to buy products they don't need? In this paper, we study the effects of advertising on consumer mistakes and quantify the resulting effect on consumer welfare in the market... mehr

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    Helmut-Schmidt-Universität, Universität der Bundeswehr Hamburg, Universitätsbibliothek
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    Standort:
    ZBW - Leibniz-Informationszentrum Wirtschaft, Standort Kiel
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    Does advertising help consumers to find the products they need or push them to buy products they don't need? In this paper, we study the effects of advertising on consumer mistakes and quantify the resulting effect on consumer welfare in the market for mortgage refinancing. Mortgage borrowers frequently make costly refinancing mistakes by either refinancing when they should wait, or by waiting when they should refinance. We assemble a novel data set that combines a borrower's exposure to direct mail refinance advertising and their subsequent refinancing decisions. Even though on average borrowers would lose approximately $500 by refinancing, the average monthly exposure of 0.23 refinancing advertisements reduces the expected net present value of mortgage payments on average by $13, because borrowers who should refinance are targeted by advertisers and more responsive to advertising. A counterfactual advertising policy that redirects all advertising to borrowers who should refinance would increase the gain in borrower welfare to $45

     
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    Hinweise zum Inhalt
    Volltext (kostenfrei)
    Quelle: Verbundkataloge
    Sprache: Englisch
    Medientyp: Buch (Monographie)
    Format: Online
    Schriftenreihe: Finance and economics discussion series ; 2017, 067
    FEDS Working Paper ; No. 2017-067
    Schlagworte: Advertising; Mistakes; Mortgage; Refinancing
    Umfang: 1 Online-Ressource (circa 53 Seiten)