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Estimating the Effect of Student Aid on College Enrollment : Evidence from a Government Grant Policy Reform
Nielsen, Helena Skyt - 2008
Danish reform. We separately identify the effect of aid from that of other observed and unobserved variables such as parental … income. We exploit the combination of a kinked aid scheme and a reform of the student aid scheme to identify the effect of …
Persistent link: https://www.econbiz.de/10012464105
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Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
Jensen, Thais Lærkholm - 2014
individual-level micro data from Denmark. The reform allows us to disentangle the role of credit access from wealth effects that …We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …
Persistent link: https://www.econbiz.de/10012458082
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Housing Subsidies : Effects on Housing Decisions, Efficiency, and Equity
Rosen, Harvey S. - 1983
This paper surveys the effects of two of the most important federal policies toward housing: the "implicit subsidy" for owner-occupied housing in the income tax code, and the provision of housing for low income families at rents below cost. Emphasis is placed on the methodological problems that...
Persistent link: https://www.econbiz.de/10012477940
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Housing Finance in the United States in the Year 2001
Hendershott, Patric H. - 1981
This paper proceeds as follows. We first identify the essential services provided by a financial system and then derive the characteristics of the system that would exist in a technologically advanced society unfettered by nonneutral taxes and regulations. Next we consider how taxes and...
Persistent link: https://www.econbiz.de/10012478376
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Deregulation, Savings and Loan Diversification, and the Flow of Housing Finance
Kane, Edward J. - 1981
This paper assesses the probable impact on S&Ls' profitability and participation in mortgage markets of The Depository Institutions Deregulation and Monetary Control Act of 1980. It tracks inflation-induced secular declines in the value of S&L mortgage holdings between 1965 and 1979 and...
Persistent link: https://www.econbiz.de/10012478481
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How Do Foreclosures Exacerbate Housing Downturns?
Guren, Adam M. - 2019
This paper uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the market for non-foreclosures and reduce price and sales...
Persistent link: https://www.econbiz.de/10012480160
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Mortgage Finance in the Face of Rising Climate Risk
Ouazad, Amine - 2019
Recent evidence suggests an increasing risk of natural disasters of the magnitude of hurricane Katrina and Sandy. Concurrently, the number and volume of flood insurance policies has been declining since 2008. Hence, households who have purchased a house in coastal areas may be at increasing risk...
Persistent link: https://www.econbiz.de/10012480267
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Why is Intermediating Houses so Difficult? Evidence from iBuyers
Buchak, Greg - 2020
We study the frictions in dealer-intermediation in residential real estate through the lens of "iBuyers," technology entrants, who purchase and sell residential real estate through online platforms. iBuyers supply liquidity to households by allowing them to avoid a lengthy sale process. They...
Persistent link: https://www.econbiz.de/10012482470
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The Inefficiency of Refinancing : Why Prepayment Penalties Are Good for Risky Borrowers
Mayer, Christopher J. - 2010
This paper explores the practice of mortgage refinancing in a dynamic competitive lending model with risky borrowers and costly default. We show that prepayment penalties improve welfare by ensuring longer-term lending contracts, which prevents the mortgage pools from becoming disproportionately...
Persistent link: https://www.econbiz.de/10012462071
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The Macroeconomic Effects of Housing Wealth, Housing Finance, and Limited Risk-Sharing in General Equilibrium
Favilukis, Jack - 2010
This paper studies a quantitative general equilibriummodel of the housing market where a large number of overlapping generations of homeowners face both idiosyncratic and aggregate risks but have limited opportunities to insure against these risks due to incomplete financial markets and...
Persistent link: https://www.econbiz.de/10012462665