Showing 1 - 10 of 428
Persistent link: https://www.econbiz.de/10011823139
How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with aggregate shocks, long-term mortgages, and an...
Persistent link: https://www.econbiz.de/10012453268
With "2020 hindsight," the 2000s housing cycle is not a boom-bust but rather a boom- bust-rebound at both the national level and across cities. We argue this pattern reflects a larger role for fundamentally-rooted explanations than previously thought. We construct a city-level long-run...
Persistent link: https://www.econbiz.de/10012616588
This paper uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing bust and to analyze foreclosure mitigation policy. We consider a dynamic search model in which foreclosures freeze the market for non-foreclosures and reduce price and sales...
Persistent link: https://www.econbiz.de/10012480160
Persistent link: https://www.econbiz.de/10012114429
Persistent link: https://www.econbiz.de/10012208050
Persistent link: https://www.econbiz.de/10014528669
How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with aggregate shocks, long-term mortgages, and an...
Persistent link: https://www.econbiz.de/10012923712
Persistent link: https://www.econbiz.de/10011893530
The entire difference between a mild downturn and a devastating crisis is the occurrence of sharp fire sales of domestic assets and possibly foreign exchange and the ensuing collapse in the balance sheets of both the financial and nonfinancial sector. Why and how do such crises materialize? And...
Persistent link: https://www.econbiz.de/10014400170