The Time-Varying Price of Financial Intermediation in the Mortgage Market
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The U.S. mortgage market links homeowners with savers all over the world. In this paper, we ask how much of the flow of money from savers to borrowers goes to the intermediaries that facilitate these transactions. Based on a new methodology and a new administrative dataset, we find that the price of
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美国国家经济研究局创建时间：
2017-08-01
