Clogged intermediation: Were home buyers crowded out?
Post-crisis policy interventions significantly increased the demand for mortgage refinancing, but could this surge in refinancing applications have crowded out the supply of credit to home buyers? In this paper, we examine two frictions that hamper financial intermediation and result in banks'...
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| Main Authors: | , , |
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| Format: | text |
| Language: | English |
| Published: |
Institutional Knowledge at Singapore Management University
2017
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| Subjects: | |
| Online Access: | https://ink.library.smu.edu.sg/lkcsb_research/5411 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6410/viewcontent/LoanSubstitution.pdf |
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| Institution: | Singapore Management University |
| Language: | English |