ECB working paper unpicks household demand for mortgage types
An ECB working paper published today aims to determine what lies behind household demand for fixed-rate or floating-rate mortgages in the eurozone, and also what effect the ECB's easy monetary policy of recent years has had on mortgage-holders.
The findings of Household risk management and actual mortgage choice in the euro area, by Michael Ehrmann and Michael Ziegelmeyer, support the hypothesis of a 2003 paper by John Campbell and João Cocco that income volatility reduces demand for variable
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