کد مقاله کد نشریه سال انتشار مقاله انگلیسی نسخه تمام متن
11004821 1478281 2018 50 صفحه PDF دانلود رایگان
عنوان انگلیسی مقاله ISI
Financial illiteracy and mortgage refinancing decisions
ترجمه فارسی عنوان
بیسوادی مالی و تصمیمات رفاهی وام مسکن
موضوعات مرتبط
علوم انسانی و اجتماعی اقتصاد، اقتصادسنجی و امور مالی اقتصاد و اقتصادسنجی
چکیده انگلیسی
We analyze the effect of an exogenous shock to the Italian mortgage market, where a reform has abolished prepayment fees and simplified mortgage refinancing, making it a virtually cost-free decision for households. This law, along with the considerable drop in market interest rates, has generated important gains for fixed-rate borrowers, which we quantify at up to 15% of the principal balance. Nevertheless, only about 13% of borrowers have locked in this opportunity. We study the relationship between this sluggish behavior and their level of financial literacy.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Banking & Finance - Volume 94, September 2018, Pages 279-296
نویسندگان
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