2009 - 2013
نویسنده
چکیده
In adjustable interest loans the borrower assumes the risk of interest rate rising, which leads to the growth of loan annuities. Given the importance of this risk in both corporate and personal finance, it is a recurrent topic in economic and financial press. In this paper, we show that the duration of a loan with constant annuity and interest rate can be used to assess the sensitivity of payments of an analogous loan with adjustable interest rate. Also, we develop an empirical application on official indexes of the Spanish mortgage market during the period 2009-2013. We find that EURIBOR is the index that causes less volatility in the mortgage annuity. Likewise, we also obtain that the average rate of loans for house purchasing in the euro zone is the index that cause greater volatility in the payments of loans. © 2015 AEDEM. Published by Elsevier España, S.L.U. This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/). Correo electrónico: [email protected] 1. Introducción Los préstamos a tipo de interés variable se introdujeron, tal como señalan Meneu, Jordà y Barreira (1997), durante la profunda transformación que sufrió el sistema financiero español a principios de la década de los 80. De hecho, en préstamos para adquisición de vivienda residencial, el interés revisable se ha convertido en un http://dx.doi.org/10.1016/j.iedee.2015.02.001 1135-2523/© 2015 AEDEM. Publicado por Elsevier España, S.L.U. Este es un artículo Open Access bajo la licencia CC BY-NC-ND (http://creativecommons. org/licenses/by-nc-nd/4.0/). Document downloaded from http://www.elsevier.es, day 06/08/2017. This copy is for personal use. Any transmission of this document by any media or format is strictly prohibited.
منابع مشابه
Forecasting Iran’s Rice Imports during 2009-2013
In the present study Iran’s rice imports trend is forecasted, using artificial neural networks and econometric methods, during 2009 to 2013, and their results are compared. The results showed that feet forward neural network leading with less forecast error and had better performance in comparison to econometric techniques and also, other methods of neural networks, such as Recurrent networks a...
متن کاملFunktionsverlust und Restitution im Sprachsystem nach (akutem) Schlaganfall: Untersuchungen mit struktureller und funktioneller Bildgebung Dissertation zur Erlangung des akademischen Grades eines Doktors der Naturwissenschaften
Article history: Received 29 July 2009 Revised 30 September 2009 Accepted 4 November 2009 Available online 12 November 2009
متن کاملThe Effect of Diazoxide on Ultrastructural Changes Following Ischemia-Reperfusion Injury of Rat Brain
Article info: Received: 25 February 2009 First Revision: 10 March 2009 Accepted: 30 April 2009
متن کاملHigh-precision location and yield of North Korea’s 2013 nuclear test
[1] Using North Korea’s 2009 nuclear test as reference and satellite imagery, we show that the location and yield of North Korea’s 2013 nuclear test can be quickly and accurately determined based on seismic data. North Korea’s 2013 nuclear test site is pinpointed by deriving relative location of North Korea’s 2009 and 2013 nuclear tests and using the previously determined location of the 2009 n...
متن کاملDraft Genome Sequences of Four Nosocomial Methicillin-Resistant Staphylococcus aureus (MRSA) Strains (PPUKM-261-2009, PPUKM-332-2009, PPUKM-377-2009, and PPUKM-775-2009) Representative of Dominant MRSA Pulsotypes Circulating in a Malaysian University Teaching Hospital
Here, we report the draft genome sequences of four nosocomial methicillin-resistant Staphylococcus aureus strains (PPUKM-261-2009, PPUKM-332-2009, PPUKM-377-2009, and PPUKM-775-2009) isolated from a university teaching hospital in Malaysia. Three of the strains belong to sequence type 239 (ST239), which has been associated with sustained hospital epidemics worldwide.
متن کامل