Mortgage Design in an Equilibrium Model of the Housing Market
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How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with aggregate shocks, long-term mortgages, and an equilibrium
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美国国家经济研究局创建时间：
2018-03-01
