| Title | Description | Date |
|---|---|---|
| Does the Community Reinvestment Act (CRA) Cause Banks to Provide a Subsidy to Some Mortgage Borrowers? | The CRA could lead banks to lower underwriting standards for CRA-eligible borrowers. We test for this effect using a unique dataset of matched borrower and lender characteristics; we control for endogenous borrower variation with imputed FICO scores. | Sep. 2004 |
| The Price of Protection: Foreclosure Law and House Prices | Uses non-parametric techniques and cross-border variation to test the effect of foreclosure laws; we find that defaulter-friendly laws push down house prices by between 2 and 5 percent. | Dec. 2003 |
| Housing, Consumption, and Credit Constraints | Current draft of my paper on the wealth effect of housing. Note that the draft is likely to be quite messy because I am rewriting it. Email me for the previous version. | Dec. 2003 |
| Consumption, Debt, and Portfolio Choice: Testing the Effects of Bankruptcy Law | Consumer bankruptcy laws vary by state and date; defaulter-friendly laws are associated with portfolio distortions, bankruptcy rates, and consumption insurance. | Nov. 2003 |
| Increasing Returns and Optimal Oscillating Labor Supply | In the presence of increasing returns to scale to labor (the result of, e.g., spillovers associated with the new economy), violent movements in labor supply, investment, output, and consumption might be socially optimal. | Nov. 2003 |
Last Modified: Sat Dec 20 19:54:02 2003 GMT
Created By: Andreas W. Lehnert <Andreas@marginalq.com>