Abstract: Although the US credit crisis precipitated it, the Irish credit crisis is an identifiably separate one, which might have occurred in the absence of the U.S. crash. The distinctive differences between them are notable. Almost all the apparent causal factors of the U.S. crisis are...

Although the US credit crisis precipitated it, the Irish credit crisis is an identifiably separate one, which might have occurred in the absence of the U.S. crash. The distinctive differences between them are notable. Almost all the apparent causal factors of the U.S. crisis are missing in the...

The owner of a residential property subject to a nonrecourse mortgage essentially has a put option against the market value of the property. If the market price of the property falls sufficiently, the owner can surrender the property to the mortgage issuer and in exchange receive full offset of...

During the years 2003 to 2008, the Irish domestic financial sector experienced a very fast and poorly controlled expansion, followed by a dramatic collapse. The causes of the Irish credit bubble and bust have been exhaustively examined; see for example Connor et al. (2012), Honohan (2010), Nyberg...

Although the 2007–2008 US credit crisis precipitated it, the subsequent Irish credit crisis is an identifiably separate one, which might have occurred in the absence of the U.S. crash. The distinctive differences between them are notable. Many of the apparent causal factors of the U.S. crisis...

This unpublished appendix provides ancillary empirical results and some simple robustness checks on the probit model of Irish mortgage defaults presented in Connor and Flavin (2014) hereafter referred to as CF. The document is organized in three sections; first we present our robustness tests;...