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dc.contributor.authorThom, Rodney
dc.date.accessioned2012-07-19T09:00:09Z
dc.date.available2012-07-19T09:00:09Z
dc.date.issued1990
dc.identifier.citationThom, Rodney. 'Interest and non-interest terms in the process of mortgage market clearing: a comment'. - Economic & Social Review, Vol. 21, No. 3, April, 1990, pp. 329-331. Dublin: Economic & Social Research Institute
dc.identifier.issn0012-9984
dc.identifier.otherJEL G21
dc.identifier.otherJEL R31
dc.identifier.urihttp://hdl.handle.net/2262/64314
dc.description.abstractIn a recent contribution to this Review Browne (1988) considers the problem of estimating mortgage demand and supply functions in situations where the speed of interest rate adjustment is insufficient to eliminate excess demand/supply within a given quarter. Browne's model of the Irish mortgage market is derived from the work of Ito and Ueda (1981) who distinguish between excess demand and supply regimes according to the speed and direction of change in the observed interest rate on mortgages. An additional feature of Browne's model is his use of non-interest terms to determine the short-run flow demand for mortgage finance. Specifically, Browne specifies short-run market demand as a function of the downpayment ratio required by institutional lenders. This ratio is introduced as a shift variable in the flow demand function with the consequence that short-run excess demand may be totally or partially eliminated by a combination of changes in interest rates and the downpayment ratio.en
dc.language.isoen
dc.publisherEconomic & Social Studies
dc.sourceEconomic & Social Reviewen
dc.subjectInterest ratesen
dc.subjectMortgage marketen
dc.subjectIrelanden
dc.subjectMortgagesen
dc.titleInterest and non-interest terms in the process of mortgage market clearing: a comment
dc.typeJournal Article
dc.publisher.placeDublinen


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