An empirical characterization of mortgage default in Colombia between 1997 and 2004

Borradores de Economia
Number: 
450
Published: 
Classification JEL: 
D4, G21, L13, R12
Keywords: 
Human capital agglomeration, Social returns, Private returns, Externalities, Uncertainty, Fiscal policy
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This paper examines the relationship between mortgage default decisions and relevant observable variables under the light of a random utility model. The focus of the study is the Colombian mortgage market between 1997 and 2004 using two separate data sets