IDEAS home Printed from https://ideas.repec.org/a/bla/obuest/v57y1995i1p43-66.html
   My bibliography  Save this article

Rationing, Mortgage Demand and the Impact of Financial Deregulation

Author

Listed:
  • Leece, David

Abstract

The paper uses Family Expenditure Survey data to estimate a reduced form, cross-section model, of mortgage demand. A double hurdle model is estimated which takes account of potential mortgage rationing. The model contrasts with the usual limited dependent variable model (Tobit) where zero values for purchases are observed and treated as equilibrium observations. The empirical specification allows for the deregulation of financial services in the 1980s, and tests for the impact of this on mortgage demand. The null hypothesis that capital markets are perfect and that rationing was not a binding constraint over the sample under study was rejected. The research seeks to better understand the impact of credit rationing upon household behavior. Copyright 1995 by Blackwell Publishing Ltd

Suggested Citation

  • Leece, David, 1995. "Rationing, Mortgage Demand and the Impact of Financial Deregulation," Oxford Bulletin of Economics and Statistics, Department of Economics, University of Oxford, vol. 57(1), pages 43-66, February.
    • Handle: RePEc:bla:obuest:v:57:y:1995:i:1:p:43-66
    as

    Download full text from publisher

    To our knowledge, this item is not available for download. To find whether it is available, there are three options:
    1. Check below whether another version of this item is available online.
    2. Check on the provider's web page whether it is in fact available.
    3. Perform a search for a similarly titled item that would be available.

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Russell N. James & Deanna L. Sharpe, 2007. "The “Sect Effect” in Charitable Giving: Distinctive Realities of Exclusively Religious Charitable Givers," American Journal of Economics and Sociology, Wiley Blackwell, vol. 66(4), pages 697-726, October.
    2. Sarah Brown & Gaia Garino & Karl Taylor, 2008. "Mortgages and Financial Expectations: A Household‐Level Analysis," Southern Economic Journal, John Wiley & Sons, vol. 74(3), pages 857-878, January.
    3. Neven, Damien & Roller, Lars-Hendrik, 1999. "An aggregate structural model of competition in the European banking industry," International Journal of Industrial Organization, Elsevier, vol. 17(7), pages 1059-1074, October.
    4. Devereux, Michael P. & Lanot, Gauthier, 2003. "Measuring tax incidence: an application to mortgage provision in the UK," Journal of Public Economics, Elsevier, vol. 87(7-8), pages 1747-1778, August.
    5. Sarah Brown, 2015. "Household repayment behaviour and neighbourhood effects," Urban Studies, Urban Studies Journal Limited, vol. 52(6), pages 1169-1188, May.
    6. Silvia Magri, 2007. "Italian households’ debt: the participation to the debt market and the size of the loan," Empirical Economics, Springer, vol. 33(3), pages 401-426, November.
    7. John Muellbauer & Pierre St-Amant & David Williams, 2015. "Credit Conditions and Consumption, House Prices and Debt: What Makes Canada Different?," Staff Working Papers 15-40, Bank of Canada.
    8. Massimiliano Affinito & Raffaele Santioni & Luca Tomassetti, 2023. "Inside household debt: disentangling mortgages and consumer credit, and household and bank factors. Evidence from Italy," Questioni di Economia e Finanza (Occasional Papers) 788, Bank of Italy, Economic Research and International Relations Area.
    9. Schreiner, Mark & Graham, Douglas H. & Cortes-Fontcuberta, Manuel & Coetzee, Gerhard K. & Vink, Nick, 1997. "Racial Discrimination In Hire/Purchase Lending In Apartheid South Africa," 1997 Annual meeting, July 27-30, Toronto, Canada 21026, American Agricultural Economics Association (New Name 2008: Agricultural and Applied Economics Association).

    More about this item

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bla:obuest:v:57:y:1995:i:1:p:43-66. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no bibliographic references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Wiley Content Delivery (email available below). General contact details of provider: https://edirc.repec.org/data/sfeixuk.html .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.