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 effect of mortgage debt reductions that reduce payments in the long-term but not in the short-term? In a new paper using data from a recent government…
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…
W13-7: What is the incidence of housing vouchers? In a frictionless, price-taking equilibrium, increased generosity of a narrowly-targeted subsidy causes increases in…
MF10-4: There are three moving forces that are central to understanding the role of government sponsored institutions in the mortgage market. Understanding these forces…
