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Author(s):
Ehrmann, Michael; Ziegelmeyer, Michael 
Title:
Household Risk Management and Actual Mortgage Choice in the Euro Area 
Abstract:
Mortgages constitute the largest part of household debt. An essential choice when taking out a mortgage is between fixed-interest-rate mortgages (FRMs) and adjustable-interest-rate mortgages (ARMs). However, so far, no comprehensive cross-country study has analyzed what determines household demand for mortgage types, a task that this paper takes up using new data for the euro area. Our results support the hypothesis of Campbell and Cocco (2003) that the decision is best described as one of house...    »
 
Keywords:
Arbeitspapier/Diskussionspapier 
Year:
2014