 Facts and figures about UK taxes, benefits and public spending.
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Analysing government fiscal forecasts and tax and spending.
Analysis of the fiscal choices an independent Scotland would face.
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Reforming the tax system for the 21st century.
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Type: External publications Authors: Tim Besley, Neil Meads and Paolo Surico
This paper uses mortgage data to construct a measure of terms on which households access to external finance, and relates it to consumption at both the aggregate and cohort levels. The Household External Finance (HEF) index is based on the spread paid by risky borrowers in the mortgage market. There is evidence that the terms of access to external finance matter more for the consumption of young cohorts in U.K. data. Results are robust to a wide variety of specifications. Search |
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