This paper shows how different housing submarkets are linked by residential vacancy chains – the series of moves across housing units initiated by the construction of new…
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…
BABC 04-10: Spending financed by home equity extraction helps smooth household consumption and bolster the economy in economic downturns, but may reduce wealth…