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The Residential Mortgage (De)regulation–Innovation nexus

Author

Listed:
  • de Silva, Ashton J
  • Boymal, Jonthan
  • Potts, Jason
  • Thomas, Stuart

Abstract

The stance of Australia’s central authorities with respect to residential mortgage innovation appears different from many of our international counterparts. In this article we provide an interpretation of this policy stance, concluding that signals are arguably a more prominent feature of Australia’s policy environment than many of our overseas counterparts. In addition we also observe that whilst there is a strong link between innovation and (de)regulation, a healthy degree of competition appears to be necessary if a wider-set of consumers are to have access to these innovations.

Suggested Citation

  • de Silva, Ashton J & Boymal, Jonthan & Potts, Jason & Thomas, Stuart, 2015. "The Residential Mortgage (De)regulation–Innovation nexus," MPRA Paper 62549, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:62549
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    File URL: https://mpra.ub.uni-muenchen.de/62549/1/MPRA_paper_62549.pdf
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    References listed on IDEAS

    as
    1. David M. Williams, 2009. "House prices and financial liberalisation in Australia," Economics Series Working Papers 432, University of Oxford, Department of Economics.
    2. Kristopher S. Gerardi & Harvey S. Rosen & Paul S. Willen, 2010. "The Impact of Deregulation and Financial Innovation on Consumers: The Case of the Mortgage Market," Journal of Finance, American Finance Association, vol. 65(1), pages 333-360, February.
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    Cited by:

    1. de Silva, Ashton J & Boymal, Jonathan & Potts, Jason & Thomas, Stuart, 2015. "Does innovation in residential mortgage products explain rising house prices? No," MPRA Paper 62548, University Library of Munich, Germany.

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    More about this item

    Keywords

    Mortgage innovation; macro prudential regulation; policy; house prices;
    All these keywords.

    JEL classification:

    • E65 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Studies of Particular Policy Episodes
    • G18 - Financial Economics - - General Financial Markets - - - Government Policy and Regulation
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
    • R38 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Government Policy

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