HOUSEHOLD CHOICE OF FIXED VERSUS FLOATING RATE DEBT: A BINOMIAL PROBIT MODEL WITH CORRECTION FOR CLASSIFICATION ERRORy

@inproceedings{LeeceHOUSEHOLDCO,
  title={HOUSEHOLD CHOICE OF FIXED VERSUS FLOATING RATE DEBT: A BINOMIAL PROBIT MODEL WITH CORRECTION FOR CLASSIFICATION ERRORy},
  author={David I. Leece}
}
The paper presents an econometric analysis of the choice by households in the United Kingdom, of ®xed rate mortgage debt covering the years 1991 to 1994 inclusive. Fixed rate mortgage instruments soon became a numerically signi®cant mortgage choice. For example the proportion of new mortgages that were ®xed rate was 46 percent in the ®rst quarter of 1993… CONTINUE READING