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foreclosure crisis. Research on defaults was advanced both theoretically and empirically by the time the crisis began, but …
Persistent link: https://www.econbiz.de/10011764548
The economic destruction of the foreclosure crisis and the Great Recession included not only the 4.5 million families … foreclosure crisis and Great Recession …
Persistent link: https://www.econbiz.de/10013058461
bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the … the model fit both national and cross-sectional moments better than a model without foreclosure. When calibrated to the …
Persistent link: https://www.econbiz.de/10012480160
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bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the … the model fit both national and cross-sectional moments better than a model without foreclosure. When calibrated to the …
Persistent link: https://www.econbiz.de/10012863685
Persistent link: https://www.econbiz.de/10012061911
Persistent link: https://www.econbiz.de/10012116562
During the Great Recession, the collapse of consumption across the U.S. varied greatly but systematically with house-price declines. We find that financial distress among U.S. households amplified the sensitivity of consumption to house-price shocks. We uncover two essential facts: (1) the...
Persistent link: https://www.econbiz.de/10012137091
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constraints. During housing busts, longer selling times spill over into higher foreclosure risk, thereby magnifying the response …, the reverse occurs. Based on these insights, I consider a foreclosure reform that makes all mortgages full recourse, and I …
Persistent link: https://www.econbiz.de/10011798986