The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mort- gages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country...

To better respond to a new set of concerns of the population and promote sustainable development, governments today actively seek a broad partnership with civil society and the private sector. Yet, it is at local and regional levels, closer to the problems and the individuals, that partnerships...