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RBA Glossary definition for financial institution
financial institution – A company whose primary function is to intermediate between lenders and borrowers in the economy.
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The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis
22 Jul 2020
RDP
2020-03
banking, consumption, debt, financial markets, households, housing, income and wealth, insolvency.
https://www.rba.gov.au/publications/rdp/2020/2020-03.html
Results
22 Jul 2020
RDP
2020-03
the severity of the shock, to the extent that it is correlated with unobserved borrower characteristics such as age, security of employment, financial literacy and understanding of the legal system. ... Lower financial literacy may also be correlated
https://www.rba.gov.au/publications/rdp/2020/2020-03/results.html
Appendix B: Full Results
22 Jul 2020
RDP
2020-03
RDP 2020-03: The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis Appendix B: Full Results. Michelle Bergmann. July 2020. Download the Paper 1,854. KB. Figure B1: Stage One Relative Hazard Ratios –
https://www.rba.gov.au/publications/rdp/2020/2020-03/appendix-b.html
The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis
22 Jul 2020
RDP
2020-03
Michelle Bergmann. July 2020. 1.83. MB. 1. Introduction. Mortgage defaults can have huge personal and financial stability costs. ... how long they expect their financial difficulties to continue and how much they can afford to repay.
https://www.rba.gov.au/publications/rdp/2020/2020-03/full.html
Estimation Strategy
22 Jul 2020
RDP
2020-03
RDP 2020-03: The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis 5. Estimation Strategy. Michelle Bergmann. July 2020. Download the Paper 1,854. KB. 5.1 A Two-stage Approach. The simplest version of the
https://www.rba.gov.au/publications/rdp/2020/2020-03/estimation-strategy.html
Conclusion and Policy Implications
22 Jul 2020
RDP
2020-03
default. Since unemployment spells and reductions to income appear to be the key macroeconomic drivers of arrears, the unemployment rate and net income should be considered key variables when evaluating financial
https://www.rba.gov.au/publications/rdp/2020/2020-03/conclusion-and-policy-implications.html
What Can Previous Research Tell Us?
22 Jul 2020
RDP
2020-03
For example, in the ‘frictionless option model’, borrowers rationally choose to default to maximise their financial wealth when the value of their mortgage falls below its cost (Foster and Van Order ... these papers are often estimated using data for
https://www.rba.gov.au/publications/rdp/2020/2020-03/what-can-previous-research-tell-us.html
Appendix A: Summary Statistics and Variable Definitions
22 Jul 2020
RDP
2020-03
RDP 2020-03: The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis Appendix A: Summary Statistics and Variable Definitions. Michelle Bergmann. July 2020. Download the Paper 1,854. KB. Table A1: Summary
https://www.rba.gov.au/publications/rdp/2020/2020-03/appendix-a.html
The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis
22 Jul 2020
RDP
2020-03
Research Discussion Paper – RDP 2020-03 The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis. Michelle Bergmann. July 2020. 1,854. KB. I would like to thank Leon Berkelmans, James Bishop, Anthony Brassil
https://www.rba.gov.au/publications/rdp/2020/2020-03/sections.html
Appendix C: Robustness Checks – Multinomial Logit Models
22 Jul 2020
RDP
2020-03
RDP 2020-03: The Determinants of Mortgage Defaults in Australia – Evidence for the Double-trigger Hypothesis Appendix C: Robustness Checks – Multinomial Logit Models. Michelle Bergmann. July 2020. Download the Paper 1,854. KB. The first-stage
https://www.rba.gov.au/publications/rdp/2020/2020-03/appendix-c.html