Much of the literature on the economics of mortgage markets has studied the FRM-ARM choice made by individual borrowers … of optimal risk-sharing in mortgage contracts. But since only a small literature has studied this question, more research …’s (1986a) model, using it to characterize optimal contracts in the absence of mortgage termination, and then exploring how …

We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip …-term reduction in mortgage interest rates and a small, short-term increase in mortgage approval rates, but no long-term effects, and … the circuit court decisions did not consistently affect mortgage terms. These results suggest that strip-down would be an …

We study the impact of regulation on competition between brand-names and generics and pharmaceutical expenditures using … a unique policy experiment in Norway, where reference pricing (RP) replaced price cap regulation in 2003 for a sub …-sample of off-patent products. First, we construct a vertical differentiation model to analyze the impact of regulation on …

. Second, a TV channel might find it optimal to commit to not raising advertising revenue. Third, regulation of the advertising …

Article underscores the dark side of both phenomena by focusing on the anti-competitive features of regulation and reform and …

Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing …