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(384)
- News (94)
- Research (241)
- Multimedia (3)
- Faculty Publications (147)
- October 22, 2012
- Article
Interest Rate Pass-Through: Mortgage Rates, Household Consumption, and Voluntary Deleveraging
By: Marco Di Maggio, Amir Kermani, Benjamin Keys, Tomasz Piskorski, Rodney Ramcharan, Amit Seru and Vincent Yao
Exploiting variation in the timing of resets of adjustable-rate mortgages (ARMs), we find that a sizable decline in mortgage payments (up to 50%) induces a significant increase in car purchases (up to 35%). This effect is attenuated by voluntary deleveraging. Borrowers... View Details
- 2008
- Book
Borrowing to Live: Consumer and Mortgage Credit Revisited
By: Nicolas P. Retsinas and Eric S. Belsky
- 10 May 2013
- News
What if the Mortgage Deduction is Eliminated?
Market Power in Mortgage Lending and the Transmission of Monetary Policy
We present evidence that high concentration in mortgage lending reduces the sensitivity of mortgage rates and refinancing activity to mortgage-backed security (MBS) yields. We isolate the direct effect of concentration and rule out alternative explanations in two ways.... View Details
- 2011
- Book
Moving Forward: The Future of Consumer Credit and Mortgage Finance
By: Nicolas P. Retsinas and Eric Belsky
The recent collapse of the mortgage market revealed fractures in the credit market that have deep roots in the system's structure, conduct, and regulation. The time has come for a clear-eyed assessment of what happened and how the system should be strengthened and... View Details
- 30 Oct 2014
- Working Paper Summaries
Housing Collateral, Credit Constraints, and Entrepreneurship-Evidence from a Mortgage Reform
- 11 Oct 2022
- Research & Ideas
Shrinking the Racial Wealth Gap, One Mortgage at a Time
and approved, but when minority loan officers shepherd those applications, approval rates increase significantly, says Adi Sunderam, the Willard Prescott Smith Professor of Corporate Finance at Harvard Business School, in the working paper, “The Impact of Minority... View Details
- 20 Oct 2015
- News
This could be the next 'subprime mortgage crisis'
Moving Forward: The Future of Consumer Credit and Mortgage Finance
The recent collapse of the mortgage market revealed fractures in the credit... View Details
- August 2009
- Teaching Note
U.S. Subprime Mortgage Crisis: Policy Reactions (TN) (A) and (B)
By: Laura Alfaro and Renee Kim
Teaching Note for [708036] and [709045]. View Details
- March 25, 2011
- Article
Heretic Reality: Mortgage Interest Deduction Needs to be Slashed
By: Robert C. Pozen
- May 2007 (Revised January 2011)
- Teaching Note
Bankinter: Deploying the Mortgage Simulator to the Branches (TN)
By: Francisco de Asis Martinez-Jerez
Teaching note to 107070. View Details
- May 2007
- Supplement
Bankinter: Deploying the Mortgage Simulator to the Branches, (107-070) dataset supplement
By: Francisco de Asis Martinez-Jerez
- Research Summary
Working on paper on how to restructure the public and private market for home mortgages in the US
the paper analyzes the main rationales for subsidizing homeownership from an international perspective, offers criteria for who should be subsidized in the future, discusses how these governmental subsidies should be implemented and how the private market for mortgage... View Details
- 04 Aug 2010
- News
A Lonely Crusader
We’ve all read stories about those rare individuals who saw the financial crisis coming and profited handsomely from their contrarian insights. Add to that list of contrarians hedge fund manager Bill Ackman (MBA ’92), whose six-year crusade to expose the financial... View Details
- Article
Financing Constraints, Home Equity and Selection into Entrepreneurship
By: Thais Laerkholm Jensen, Søren Leth-Petersen and Ramana Nanda
We exploit a mortgage reform that differentially unlocked home equity across the Danish population and study how this impacted selection into entrepreneurship. We find that increased entry was concentrated among entrepreneurs whose firms were founded in industries... View Details