Chambers, Matthew (contributor); Garriga, Carlos (contributor) - 2007
the combined e�ects of
demographics and mortgage innovation in accounting for the observed change in homeownership.
We �nd …
as the demographic structure, or �nancial innovation in the mortgage markets. The introduction of idiosyncratic
capital … in the
homeownership rate. In this case, the importance of �nancial innovation increases in relative
importance and …