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- Title
When is mortgage indebtedness a financial burden to British households? A dynamic probit approach.
- Authors
May, Orla; Tudela, Merxe
- Abstract
The article presents information on the factors of mortgage payment problems while using disaggregated data from the British Household Panel Survey. According to the author, one can examine how both macroeconomic factors and household-level factors affect the probability of households while meeting their mortgage commitments. The data confirm that the two most important household-level factors associated with mortgage payment problems are adverse changes in employment and the level of income gearing.
- Subjects
MONETARY policy; MACROECONOMICS; GOVERNMENT policy; ECONOMIC policy; EMPLOYMENT
- Publication
Bank of England Quarterly Bulletin, 2005, Vol 45, Issue 4, p473
- ISSN
0005-5166
- Publication type
Article