conditions required by the banking system to grant a mortgage. The authors find that easier access to credit inflates housing …

This paper investigates the housing and mortgage markets by means of an agent-based macroeconomic model of a credit … households’ creditworthiness conditions required by banks in order to grant a mortgage. Results show that easier access to credit …

bankruptcy rates but increased foreclosure rates, and that the Home Affordable Refinance Program reduced foreclosures during the …I develop an equilibrium model of housing and default to jointly analyze the effects of bankruptcy and foreclosure … debt. I show that the interaction between foreclosure and bankruptcy decisions is crucial for explaining the observed cross …