regulation, and not by price differences in line with the hypothesis of "regulatory arbitrage". … medicines conflicts with traditional sources of arbitrage (e.g., price and income differences) and instead is a form of … ‘regulatory arbitrage’ that does not produce equivalent welfare effects. We draw upon a unique dataset that contains records of …

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 …

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 …

likelihood methods. The data used for estimation is a sample of clients of a French network of mortgage lenders. We show the …

mortgage amount influence the share of liquid assets held in stocks. We apply different econometric methods to take selection … and endogeneity into account. In our preferred specifications both home equity and the household's amount of mortgage debt …

What are the macroeconomic consequences of changing aggregate lending standards in residential mortgage markets, as … instrument, and, as a result, mortgage rates increase and residential investment declines. The monetary policy reaction function …. Without the endogenous monetary policy reaction residential investment increases. House prices and household (mortgage) debt …

We study the link between homeownership, mortgage debt, and entrepreneurship using a model of occupational choice and … housing tenure where homeowners commit to mortgage payments. Our model predicts that, as long as mortgage rates exceed the … rate of interest on liquid wealth: (i) mortgage debt, by amplifying risk aversion, diminishes the likelihood that …