TY  - BOOK
AU  - Ferreira,Clodomiro
AU  - Gálvez,Julio
AU  - Pidkuyko,Myroslav
TI  - Housing tenure, consumption and household debt: life-cycle dynamics during a housing bust in Spain
T2  - Documentos de Trabajo
PY  - 2024///
CY  - Madrid
PB  -  : Banco de España
KW  - Vivienda
KW  - Crédito inmobiliario
KW  - Propiedad inmobiliaria
KW  - Análisis económico
KW  - España
N1  - Bibliografía: p. 47-49
N2  - The housing bust in Spain was characterized by a significant and rapid drop in home ownership among the younger cohorts, a relatively homogeneous but significant decrease in consumption and significant movements in the rent-to-house price ratio. To uncover the causes of these movements, we solve and estimate an equilibrium life-cycle model with non-linear income, mortgage and housing and rental market dynamics, and simulate a series of counterfactual policy changes and macroeconomic conditions observed in Spain during the period. The lion’s share of the observed drop in home ownership and consumption and the housing market dynamics can be explained by more cautious credit conditions and the major shift in income dynamics observed in Spain between the boom and bust phases
UR  - https://mpr.koha.es/cgi-bin/koha/opac-retrieve-file.pl?id=158ff20ca2df4b8549bf034f5781bad9
ER  -