The social and economic effects of introducing reverse mortgages in Chile
Bibliographic Data
| ID | 11650798 |
|---|---|
| Authors | José Luis García Ruiz (0000-0002-3612-6217, University of Chile), José Luis Ruiz, Pablo Tapia (0000-0003-4657-3544, University of Chile), Jose Donoso (0000-0002-5532-0648), José Irrázabal Donoso (University of Chile) |
| Year | 2020 |
| Volume | 2019 |
| Issue | 129 |
| Pages | 221-244 |
| Publication date | 2020-05-20 |
| Peer Reviewed | Yes |
| Open Access | No |
| Type | ARTICLE |
| Venue | CEPAL review (JOURNAL) |
| Journal identifiers | ISSN: 0251-2920 • E-ISSN: 1684-0348 |
| Publisher | United Nations Publications (PUBLISHER • US) |
| DOI | 10.18356/af94f300-en |
| OpenAlex | W3034323303 |
| Language | EN |
| References cited | 3 |
This study simulates the social and economic effects of introducing reverse mortgages in Chile. It uses the 2009 Social Protection Survey and recent simulation methodologies to analyse the monetary gain associated with taking out such a loan, which is paid in periodic instalments over the homeowner s lifetime. Eligible individuals are retired homeowners, who account for 70% of the older population. Monies received increase exponentially depending on the age at which the reverse mortgage is taken out. Lastly, the increase in liquidity has significant social potential, as it could reduce the poverty rate in the target group by 15
Business · Demographic economics · Economic growth · Economics · Loan · Market liquidity · Monetary economics · Population · Poverty · Poverty rate · Sociology · Demography · Financial Literacy, Pension, Retirement Analysis · Housing Market and Economics · Income, Poverty, and Inequality · Finance
| Citation velocity | historical |
|---|---|
| Highly cited | No |