A Simple Model of Subprime Borrowers and Credit Growth
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The surge in credit and house prices that preceded the Great Recession was particularly pronounced in ZIP codes with a higher fraction of subprime borrowers (Mian and Sufi, 2009). We present a simple model with prime and subprime borrowers distributed across geographic locations, which can reproduce
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美国国家经济研究局创建时间:
2016-02-01



