Why do homeowners default on mortgages? This paper studies the question using a survey
specifically designed for the purpose, with a sample drawn from (and matched to) very rich …

We study the impact of changes in recourse legislation on mortgage defaults. Romania
provides us with an ideal experimental setting to identify this impact. Using a large dataset of …

Borrower-friendly laws, such as recourse restrictions and judicial foreclosures, impose
higher costs and risks to lenders. Yet, there is little evidence on how lenders transfer them to …

We quantify the relative contributions of credit supply and housing demand shocks to the
dynamics of the US housing market and macroeconomy around 2008. Using a general …

We analyze the effects of borrower-based macroprudential policy at the household level. We
exploit administrative Dutch tax and housing records in conjunction with the introduction of a …