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East side story : historical pollution and persistent neighborhood sorting
Heblich, Stephan; Trew, Alex; Zylberberg, Yanos - 2016
Why are the East sides of former industrial cities like London or New York poorer and more deprived? We argue that this observation is the most visible consequence of the historically unequal distribution of air pollutants across neighborhoods. In this paper, we geolocate nearly 5,000 industrial...
Persistent link: https://www.econbiz.de/10011557825
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Using bankruptcy to reduce foreclosures : does strip-down of mortgages affect the supply of mortgage credit?
Li, Wenli; Ishani, Tewari; White, Michelle J. - 2014 - Current version: February 2014
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 …
Persistent link: https://www.econbiz.de/10010337629
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Optimal risk-sharing in mortgage contracts : the effects of potential prepayment and default
Brueckner, Jan K.; Lee, Kangoh - 2014
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 …
Persistent link: https://www.econbiz.de/10010412302
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Default costs and repayment of underwater mortgages
Brueckner, Jan K.; Conklin, James N.; Coulson, N. Edward; … - 2023
This paper explores an overlooked phenomenon in mortgage markets: repayment of underwater mortgages. Since repayment in …, which includes credit impairment and possible guilt, repayment of an underwater mortgage is a wealth-maximizing strategy …
Persistent link: https://www.econbiz.de/10014427442
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Insurers monitor shocks to collateral : micro evidence from mortgage-backed securities
Fetzer, Thiemo; Guin, Benjamin; Netto, Felipe; Saidi, Farzad - 2024
to holders of commercial mortgage-backed securities (CMBS). Using detailed micro data, we show that cash flow shocks … during the COVID-19 pandemic predict CRE mortgage delinquency, especially those stemming from lease expiration of offices …
Persistent link: https://www.econbiz.de/10015061135
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A theory of urban squatting and land-tenure formalization in developing countries
Brueckner, Jan K. (contributor); Selod, Harris (contributor) - 2008
This paper offers a new theoretical approach to urban squatting, reflecting the view that squatters and formal residents compete for land within a city. The key implication of this view is that squatters squeezeʺ the formal market, raising the price paid by formal residents. The squatter...
Persistent link: https://www.econbiz.de/10003720592
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Gentrification and affordable housing policies
Borck, Rainald; Gohl, Niklas - 2021
We use a quantitative spatial equilibrium model to evaluate the distributional and welfare impacts of a recent temporary rent control policy in Berlin, Germany. We calibrate the model to key features of Berlin’s housing market, in particular the recent gentrification of inner city locations....
Persistent link: https://www.econbiz.de/10012696919
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The employment of mothers : recent developments and their determinants in East and West Germany
Hanel, Barbara; Riphahn, Regina T. - 2010
We apply German Mikrozensus data for the period 1996 to 2004 to investigate the employment status of mothers. Specifically, we ask whether there are behavioral differences between mothers in East and West Germany, whether these differences disappear over time, and whether there are differences...
Persistent link: https://www.econbiz.de/10008697044
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Carbon tax burdens on low-income households : a reason for delaying climate policy
Parry, Ian W. H. - 2015
This paper discusses techniques for measuring the incidence of carbon taxes across different household income groups and provides some cross-country estimates of these effects for selected advanced countries. The general message of this paper is that distributional concerns should not...
Persistent link: https://www.econbiz.de/10011309218
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Optimal participation taxes
Vidar, Christiansen - 2012
Addressing extensive labour supply responses, the literature has established a case for larger transfers to the working poor than to even poorer non-working people. This paper casts new light on this result. I argue that the result hinges crucially on the labour supply responses of people in...
Persistent link: https://www.econbiz.de/10009630195