TY  - JOUR 
TI  - Identifying the determinants of mortgage default in Colombia between 1997 and 2004
PB  - Springer
PY  - 2013
issn 1614-2446
AB  - This paper examines the relationship between mortgage default decisions and relevant observable variables in Colombia between 1997 and 2004. We estimate a discrete choice model of default using a panel of individual mortgage characteristics and payment information. We show that home prices and debt balances are the main determinants of mortgage default. We account for the presence of unobserved heterogeneity using Survey data and simulation techniques. Including controls for the distribution of income shows that income was not important but helps clarifying the relevance of mortgage leverage in the determination of the observed default rates.
KW  - Economía
KW  - Econometría
KW  - Economics
KW  - Econometrics models
KW  - Hipoteca
UR  - http://hdl.handle.net/10906/79127
ER  -