We study the effects of opioid usage on real estate prices. Using variation in opioid
prescription rates induced by the staggered passage of opioid-limiting legislation, we find …

Debt relief programs are often implemented in debt crises to alleviate debt overhang. If debt
overhang is severe, debt relief can even benefit creditors by increasing repayment rates …

We show that commercial mortgage borrowers behave opportunistically to attempt to obtain
principal reductions. We develop a model in which lenders cannot perfectly observe …

We study the labor market and mental health impacts of debt relief among financially
vulnerable individuals. We exploit a cutoff rule used by a Dutch welfare office to determine …

Estimates in judge designs run the risk of being biased due to the many judge identities that
are implicitly or explicitly used as instrumental variables. The usual method to analyse judge …

I study the effect of foreclosure delays on labor income and employment outcomes,
exploiting a temporary CFPB rule that restricted servicers from initiating foreclosures. Using …

In the US, many mortgage borrowers are required by law to maintain flood insurance, but
compliance is weakly enforced. Lapsed policies can thus impose high monitoring costs on …

We show that commercial mortgage borrowers behave opportunistically to attempt to obtain
principal reductions. We develop a model in which lenders cannot perfectly observe …

In the presence of financial frictions, the timing of cash flows matters. We apply this insight to
optimal income taxation by studying a new policy: delayed taxation. Introducing a delay …

Financially constrained agents discount future cash flows at above-market rates. In this
paper, we present the hypothesis that delaying tax payments can materially reduce …