Elsevier

Economic Modelling

Volume 11, Issue 2, April 1994, Pages 134-144
Economic Modelling

An empirical model of mortgage arrears and repossessions

https://doi.org/10.1016/0264-9993(94)90015-9Get rights and content

Abstract

The objective of this paper is to estimate an empirical model to explain building society mortgage arrears and repossessions. In particular, we examine front-end loading and the importance of interest rates and inflation and financial variables such as capital gearing and unwithdrawn equity.

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Cited by (0)

All three authors were with the Bank of England when the first draft of this paper was written.

1

The views expressed are those of the authors and do not necessarily represent those of the Bank of England. The authors would like to thank Phil. Burns, John Flemming and Joe Wilcox for significant contributions, Roger Clews, John Muellbauer and Bahram Pesaran for comments and Tamsin Brew for research assistance. The paper has also benefited from comments received from David De Meza and seminar participants at Exeter University.

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