Estimating the effect of mortgage foreclosures on nearby property values: A critical review of the literature
WS Frame - Economic review, 2010 - econstor.eu
In response to the wave of residential mortgage foreclosures in the past few years, federal,
state and local government intervention programs have aimed to reduce the presumed …
state and local government intervention programs have aimed to reduce the presumed …
Climate change risk and the cost of mortgage credit
We show that lenders charge higher interest rates for mortgages on properties exposed to a
greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and …
greater risk of sea level rise (SLR). This SLR premium is not evident in short-term loans and …
Mortgage-default research and the recent foreclosure crisis
This article reviews the surge in research on mortgage default inspired by the recent
foreclosure crisis. Economists already understood a great deal about default, both …
foreclosure crisis. Economists already understood a great deal about default, both …
Liquidity versus wealth in household debt obligations: Evidence from housing policy in the great recession
We exploit variation in mortgage modifications to disentangle the impact of reducing long-
term obligations with no change in short-term payments (“wealth”), and reducing short-term …
term obligations with no change in short-term payments (“wealth”), and reducing short-term …
The mortgage credit channel of macroeconomic transmission
D Greenwald - 2018 - papers.ssrn.com
I investigate how the structure of the mortgage market influences macroeconomic dynamics,
using a general equilibrium framework with prepayable debt and a limit on the ratio of …
using a general equilibrium framework with prepayable debt and a limit on the ratio of …
Household finance: An emerging field
Household finance—the normative and positive study of how households use financial
markets to achieve their objectives—has gained a lot of attention over the past decade and …
markets to achieve their objectives—has gained a lot of attention over the past decade and …
What drives house price cycles? International experience and policy issues
JV Duca, J Muellbauer, A Murphy - Journal of Economic Literature, 2021 - aeaweb.org
The role of real estate during the global financial and economic crisis has prompted efforts to
better incorporate housing and financial channels into macro models, improve housing …
better incorporate housing and financial channels into macro models, improve housing …
Technological change and financial innovation in banking: Some implications for fintech
Financial intermediation has changed dramatically over the past 30 years, due in large part
to technological change. The paper first describes the role of the financial system in a …
to technological change. The paper first describes the role of the financial system in a …
A model of mortgage default
JY Campbell, JF Cocco - The Journal of Finance, 2015 - Wiley Online Library
In this paper, we solve a dynamic model of households' mortgage decisions incorporating
labor income, house price, inflation, and interest rate risk. Using a zero‐profit condition for …
labor income, house price, inflation, and interest rate risk. Using a zero‐profit condition for …
The determinants of attitudes toward strategic default on mortgages
We use survey data to measure households' propensity to default on mortgages even if they
can afford to pay them (strategic default) when the value of the mortgage exceeds the value …
can afford to pay them (strategic default) when the value of the mortgage exceeds the value …