We kindly invite you to the lecture by Dr habil Balázs Sárvári, Economist, Sen. Researcher, Central Bank of Hungary, Sustainable Finance Department; Sen. Lecturer, Corvinus University of Budapest, Institute of Economics. 

Date: 11 November (Wednesday), 2026, 10:00 a.m.

Place: Bibó Room (Europe House)

Title of the seminar: Measuring the Income Effect of Energy Efficiency in Reducing the Mortgage Probability of Default

(The presentation is based on an accepted paper. Publication is scheduled for 2027.)

Abstract:  We analysed the impact of energy-efficient households increased disposable income on mortgage probability of defaults (PD) in Hungary. We estimated the PD reduction for different residential building types and income classes and two energy efficiency criteria. Our estimation uses a novel methodology consisting of a calculation of heating cost savings and a logistic regression model of mortgage PD. According to our results the PD reduction due to the disposable income effect for houses achieving CC energy label are twice as high, as for houses achieving only 30% energy reduction from the typical energy usage. Additionally, we found that higher-income classes obtain lower PD reduction while the PD impact is the highest for households living in single-family homes.

Full reference to the accepted paper:Várgedő, Bálint; Sárvári, Balázs; Kandrács, Csaba (2027): Measuring the Income Effect of Energy Efficiency in Reducing the Mortgage Probability of Default. Int. J. of Green Economics. DOI: 10.1504/IJGE.2026.10078568.