| 000 -LEADER |
|---|
| fixed length control field |
01358nam a22001577a 4500 |
| 008 - FIXED-LENGTH DATA ELEMENTS--GENERAL INFORMATION |
|---|
| fixed length control field |
210707b ||||| |||| 00| 0 eng d |
| 100 ## - MAIN ENTRY--PERSONAL NAME |
|---|
| Personal name |
Adersen, S., Campbell, J.Y. and Ramadorai, T. |
| 245 ## - TITLE STATEMENT |
|---|
| Title |
Sources of inaction in household finance: Evidence from the Danish mortgage market |
| 260 ## - PUBLICATION, DISTRIBUTION, ETC. (IMPRINT) |
|---|
| Place of publication, distribution, etc |
The American Economic Review |
| 300 ## - PHYSICAL DESCRIPTION |
|---|
| Extent |
110(10), Oct, 2020: p.3184-3230 |
| 520 ## - SUMMARY, ETC. |
|---|
| Summary, etc |
We build an empirical model to attribute delays in mortgage refinancing to psychological costs inhibiting refinancing until incentives are sufficiently strong; and behavior, potentially attributable to information-gathering costs, lowering the probability of household refinancing per unit time at any incentive. We estimate the model on administrative panel data from Denmark, where mortgage refinancing without cash-out is unconstrained. Middle-aged and wealthy households act as if they have high psychological refinancing costs; but older, poorer, and less-educated households refinance with lower probability irrespective of incentives, thereby achieving lower savings. We use the model to understand frictions in the mortgage channel of monetary policy transmission. – Reproduced |
| 650 ## - SUBJECT ADDED ENTRY--TOPICAL TERM |
|---|
| Topical term or geographic name as entry element |
Household finance, Danish mortgage market, Mortgage market |
| 9 (RLIN) |
26242 |
| 773 ## - HOST ITEM ENTRY |
|---|
| Main entry heading |
The American Economic Review |
| 906 ## - LOCAL DATA ELEMENT F, LDF (RLIN) |
|---|
| Subject DIP |
MORTGAGE LOANS |
| 942 ## - ADDED ENTRY ELEMENTS (KOHA) |
|---|
| Item type |
Articles |
