Adelino, Manuel; Gerardi, Kristopher; Willen, Paul - In: The Journal of Real Estate Finance and Economics 49 (2014) 3, pp. 352-378
This paper develops and estimates an instrumental variables strategy for identifying the causal effect of securitization on the incidence of mortgage modification and foreclosure based on the early payment default analysis performed by Piskorsi et al. (J Financ Econ 97:360–397, <CitationRef CitationID="CR12">2010</CitationRef>)....</citationref>
