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…
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…
Parag Pathak, John Campbell, Stefano Giglio
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May 1, 2009
W09-4: This paper uses data on house transactions in the state of Massachusetts over the last 20 years to show that houses sold after foreclosure, or close in time to…