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Modelling demand for mortgage loans using loan-level data

P. 241-248.

This paper is concerned with modeling the demand for mortgage loans. The   demand for loans can be represented as two functions: probability of borrowing   and the loan amount, depending on borrower-specific characteristics, contract   terms and set of macrovariables. The decision-making process for borrowing can   be described as the sequence of decisions on: 1) choosing the credit program;    2) approving of a borrower; 3) choosing contract terms from a feasible set;    4) and loan performance. Following Philips and Yezer (1996) and Attanasio,    Goldberg and Kyriazidou (2008) the author proposes an econometric approach   that deals with endogeneity and self-selection of borrowers when estimating the    demand-for-loan equations and specifies the structure of data that is required for   implementation.

В книге

Под науч. редакцией: S. Ivliev, A. K. Bera, F. Lillo. NY: Springer, 2015.