I examine tenure and mortgage choice in an equilibrium model in which households make decisions as if they discount hyperbolically rather than exponentially. Overall, hyperbolic discounting does not seem to explain the high rates of home ownership or portfolio concentration in housing in the...

We document economically important correlations between children's future credit outcomes and their parents' credit risk scores, default, and the extent of credit constraints - intergenerational linkages in household credit. Using observations on siblings, we find that the linkages are due to...

I examine tenure and mortgage choice in an equilibrium model in which households make decisions as if they discount hyperbolically rather than exponentially. Overall, hyperbolic discounting does not seem to explain the high rates of home ownership or portfolio concentration in housing in the...