treatments respond to flood risk. We identify reactions to flood risk, distinctly from price effects due to flood damage, by … seaboard. We find that homes in high flood risk zones situated in towns that participate in public flood awareness activities …

previously considered in existing quantitative macro studies of housing finance: aggregate business cycle risk, and a realistic …, the boom in house prices is entirely the result of a decline in the housing risk premium. Third, low interest rates cannot …

review indicates that the FHA will not need any form of government support. We identify four risk factors that make such a … accuracy of FHA risk assessment …

, and near-frictionless refinancing opportunities---led to vastly increased systemic risk in the financial system …

, borrowing (risk-sharing) declines, and the sensitivity of consumption to income increases. Our model aggregates heterogeneous …

Since the 1990s, China's real estate market has experienced a dramatic and long-lasting boom across China. This boom … into a gigantic housing bubble, which might eventually burst and damage China's financial system and economy. Motivated by … this concern, this paper reviews the historical development of China's real estate market, describes the real estate boom …

China's real estate has been a key engine of its sustained economic expansion. This paper argues, however, that even …

, China's stimulus boosted real GDP growth from an annualized 6.2% in the first quarter of 2009 trough to 11.9% in the first … speed and efficacy of China's stimulus derives from state control over its banking system and corporate sector. Beijing …, fueling a real estate bubble; and that China's seemingly highly effective macroeconomic stimulus package may well have induced …