Villains or scapegoats? The role of subprime borrowers in driving the U.S. housing boom
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Financial Intermediation"
DOI: 10.1016/j.jfi.2021.100906
Abstract: Abstract An expansion in mortgage credit to subprime borrowers is widely believed to have been a principal driver of the 2002-2006 U.S. house price boom. By contrast, this paper documents a robust, negative correlation between… read more here.
Keywords: subprime borrowers; house price; housing boom; boom ... See more keywords
Expectations and the housing boom and bust. An open economy view
Sign Up to like & getrecommendations! Published in 2020 at "Journal of Housing Economics"
DOI: 10.1016/j.jhe.2020.101690
Abstract: I show that, across and within countries, both the expansion and shrinking of the Global Imbalances since the mid 1990s are strongly correlated with the dynamics of housing markets. Then I study a quantitative model… read more here.
Keywords: housing boom; bust open; housing; expectations housing ... See more keywords