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dc.contributor.authorAgarwal, Sumit
dc.contributor.authorKarapetyan, Artashes
dc.date.accessioned2018-04-25T07:09:02Z
dc.date.available2018-04-25T07:09:02Z
dc.date.issued2015
dc.identifier.isbn978-82-7553-888-6
dc.identifier.issn1502-8190
dc.identifier.urihttp://hdl.handle.net/11250/2495795
dc.description.abstractWe show how a regulatory disclosure of hidden debt can eliminate a large mispricing in housing. In a setting where homebuyers must combine several sources of debt, they are biased towards hidden loans, especially if they are young, or have no experience in financial investments or home acquisition. By reducing the mispricing of units with hidden debt, the increased salience of debt benefited homebuyers, particularly those that suffered most from it. An average homebuyer could save $18,000 by acquiring a dwelling with a one standard deviation lower debt. We confirm that lack of salience was the source of the bias, by showing that the regulation nearly eliminated the mispricing.nb_NO
dc.language.isoengnb_NO
dc.publisherNorges Banknb_NO
dc.relation.ispartofseriesWorking Papers;21/2015
dc.rightsAttribution-NonCommercial-NoDerivatives 4.0 Internasjonal*
dc.rights.urihttp://creativecommons.org/licenses/by-nc-nd/4.0/deed.no*
dc.subjectJEL: D12nb_NO
dc.subjectJEL: G14nb_NO
dc.subjectJEL: G21nb_NO
dc.subjectJEL: G32nb_NO
dc.subjectsaliencenb_NO
dc.subjecthousingnb_NO
dc.subjectcooperativesnb_NO
dc.subjectmortgagenb_NO
dc.subjecthousehold financenb_NO
dc.subjectmispricingnb_NO
dc.titleSalience of Debt and Homebuyers’ Credit Decisionsnb_NO
dc.typeWorking papernb_NO
dc.description.versionpublishedVersionnb_NO
dc.subject.nsiVDP::Samfunnsvitenskap: 200::Økonomi: 210::Samfunnsøkonomi: 212nb_NO
dc.source.pagenumber43nb_NO


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Attribution-NonCommercial-NoDerivatives 4.0 Internasjonal
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