Unemployed households' access to unsecured revolving credit more than tripled over the
last three decades. This article analyses how both cyclical fluctuations and trend increases …

How do consumer credit markets affect the allocation of workers to firms, output, and labour
productivity? We address this question in two steps. First, we use new micro-data to estimate …

This paper estimates a lifecycle model of consumption, housing choice, and migration in the
presence of aggregate and regional shocks, using the Survey of Income and Program …

How does consumer credit access impact job flows, earnings, and entrepreneurship? To
answer this question, we build a new administrative dataset which links individual …

We develop a two-sector search-matching model of the labor market with imperfect mobility
of workers, augmented to incorporate a housing market and a frictional goods market …

A striking change in American society in the last 40 years has been the decline and delay in
marriage. The fraction of young adults who have never been married increased significantly …

This paper studies the impact of foreclosure delay on the US labor market. We first document
that the average time required to initiate and complete a home foreclosure rose from 9 …

Through a purely positive lens, we study and document the growing trend of mortgagors
who skip mortgage payments as an extra source of “informal” unemployment insurance …

Migration frictions are important for understanding key features of gross migration and
housing markets. This paper studies a multi-region equilibrium model with frictional …

We examine the effects of homeownership on individuals' unemployment durations. An
unemployment spell can terminate with a job or with nonparticipation. The endogeneity of …