WP 2020-02 Responses to Saving Commitments: Evidence from Mortgage Run-offs
Published in 2021 in Journal of Money, Credit and Banking.
AUTHORS: Steffen Andersen, Philippe d’Astous, Jimmy Martínez-Correa and Stephen H. Shore
ABSTRACT: We study consumers’ responses to removing a saving constraint. Mortgage run-offs predictably relax a saving constraint for borrowers whose mortgage committed them to save by paying down principal.… more »
