Rationing, mortgage demand and the impact of financial deregulation

Article Abstract:

Previous studies of mortgage demand use time series data within broader frameworks of housing demand and supply equations. A 'double-hurdle' model that uses cross-section family data on determinants of mortgage demand is proposed as an alternative. The proposed framework separates the determination of mortgage desire and approval from that of loan size. Using 1986 Family Expenditure Survey data, the results indicate imperfect capital markets and the non-neutrality of rationing over the sample period.

Financial Services, Finance and Insurance, Mortgage bankers and correspondents, Mortgage Bankers, Real Estate Credit, Economic aspects, Deregulation, Mortgage banks, Mortgages, Rationing

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Alternative approaches to modelling zero expenditure: an application to Spanish demand for tobacco

Article Abstract:

A tobacco demand equation for Spain is proposed. The equation emphasizes the use of double-hurdle models. A dependent version of the double-hurdle model is proposed, although independence is not a restrictive assumption when features of total expenditure are included in the specification of the second model. The existence of separate individual decisions on participation and consumption is confirmed.

Tobacco farms, Tobacco, Tobacco Farming, Analysis, Spain, Demand (Economics)

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Occupational labour demand and the sources of non-neutral technical change

Article Abstract:

A study using empirical approach for examining both the nature and sources of non-neutral technical change across multiple occupations, in the context of labour parameter estimates is presented.

United States, Market information - general, Labor supply, Labor force, Labour force

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