We use survey data to study American households’ propensity to default when the value of their mortgage exceeds the … value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing … the house. Yet, 17% of households would default, even if they can afford to pay their mortgage, when the equity shortfall …

How do credit standards on the mortgage market affect neighbourhood choice and the resulting level of urban segregation …-2006 mortgage credit boom on the level of school segregation. Census tract racial composition is strongly correlated with the racial … composition of the 10 closest schools in the cross section. Matching a national data set of mortgage originations with annual …

postwar period, and is used to assess the macroeconomic experience and policy options in Greece. …

terms of trade. We take this evidence to suggest that the propagation mechanism for business cycles in Greece is fairly …

in Greece. Using regional public investment data for 10 political periods (1975-2009), combined with electoral data by …

of the restructuring left money on the table from the perspective of Greece, created a large risk for European taxpayers …

in Greece. Using a new database of public expenditure per region for the period 1978-2007, it proposes a model which … public investment in each region. Finally, the impact of different types of public investment in Greece is mediated by …

the privatization of Greece’s public banks. We focus on two challenges for policy makers: the need to strengthen …