The volatility of the business cycle and an extreme shortage of housing were the twin problems of American economic life in the years following the First World War. Under the…
What is the microelasticity of mortgage demand to interest rates? Despite the importance of this parameter for models of monetary policy efficacy, little is known about the…
W01-10: The multifamily mortgage market has changed dramatically over the last two decades. The relative importance of the thrifts—once the major source of financing for…