Why do national trends in house prices spread more to some cities than to others? This paper proposes an explanation of house price contagion based on migration spillovers…
This paper empirically and theoretically analyzes the effect of debt reductions that reduce long-term but not short-term obligations. Isolating the effect of future…
MF10-5: The U.S. mortgage finance system has gone from the envy of the world to a case study of failure in 2 short years. As recently as the 2003-2005 period the system…