Narrow search
Showing 1 - 10 of 53,375
Cover Image
Mortgage default in an estimated model of the U.S. housing market
Lambertini, Luisa; Victoria, Nuguer; Uysal, Pinar - 2017
model two shocks are well suited to replicate the subprime crisis and the Great Recession: the mortgage risk shock and the … housing demand shock. Next we use our estimated model to evaluate a policy that reduces the principal of underwater mortgages …
Persistent link: https://www.econbiz.de/10011660977
Cover Image
Lender-specific mortgage supply shocks and macroeconomic performance in the United States
Bremus, Franziska; Krause, Thomas; Noth, Felix - 2021
This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. Based on micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender-specific mortgage supply shocks affect aggregate mortgage, house...
Persistent link: https://www.econbiz.de/10012498347
Cover Image
Lender-specific mortgage supply shocks and macroeconomic performance in the United States
Bremus, Franziska; Krause, Thomas; Noth, Felix - 2021
This paper provides evidence for the propagation of idiosyncratic mortgage supply shocks to the macroeconomy. Based on micro-level data from the Home Mortgage Disclosure Act for the 1990-2016 period, our results suggest that lender-specific mortgage supply shocks affect aggregate mortgage, house...
Persistent link: https://www.econbiz.de/10012485491
Cover Image
Institutional investors and the U.S. housing recovery
Lambie-Hanson, Lauren; Li, Wenli; Slonkosky, Michael - 2019
We study the house price recovery in the U.S. single-family residential housing market since the outbreak of the mortgage crisis, which, in contrast to the preceding housing boom, was not accompanied by a rise in homeownership rates. Using comprehensive property-level transaction data, we show...
Persistent link: https://www.econbiz.de/10012197788
Cover Image
Land prices and unemployment
Liu, Zheng; Miao, Jianjun; Zha, Tao - 2013
business cycle. Second, a shock that moves the land price is capable of generating large volatility in unemployment. Our …
Persistent link: https://www.econbiz.de/10010126854
Cover Image
Liquidity premia, price-rent dynamics, and business cycles
Miao, Jianjun; Wang, Pengfei; Zha, Tao - 2014
to our estimation, a shock that drives most of the price-rent fluctuation explains 30 percent of output fluctuation over …
Persistent link: https://www.econbiz.de/10010395957
Cover Image
Mortgages and monetary policy
Garriga, Carlos; Kydland, Finn E.; Šustek, Roman - 2015
Mortgages are prime examples of long-term nominal loans. As a result, under incomplete asset markets, monetary policy can affect household decisions through the cost of new mortgage borrowing and the value of payments on outstanding debt. These channels are distinct from the transmission through...
Persistent link: https://www.econbiz.de/10011306278
Cover Image
Housing and debt over the life cycle and over the business cycle
Iacoviello, Matteo; Pavan, Marina - 2009
of housing adjustment. In the time-series dimension, the model accounts for the procyclicality and volatility of housing … following question: what are the consequences for aggregate volatility of an increase in household income and a decrease in …. Quantitatively, this model can explain: (1) 45 percent of the reduction in the volatility of household investment; (2) the decline in …
Persistent link: https://www.econbiz.de/10003906135
Cover Image
Expectations during the U.S. housing boom : inferring beliefs from actions
Ben-David, Itzhak; Towbin, Pascal; Weber, Sebastian - 2019
We infer the role of price expectations in forming the U.S. housing boom in the early-2000s from examining housing inventories. We use a reduced form model to show that agents invest in vacant homes when they anticipate prices will increase. Empirically, vacancy can discriminate between price...
Persistent link: https://www.econbiz.de/10012104647
Cover Image
Contagious real estate cycles : causes, consequences, and policy implications
Cho, Man - 2012
The objective of this study is two-fold: first, to conceptualize key causal relationships between housing price cycle and mortgage credit cycle based on relevant literature and, second, to present cases of two countries - Korea and the U.S. - in terms of evolution of, and recent milestone events...
Persistent link: https://www.econbiz.de/10009568840