How Resilient Is Mortgage Credit Supply? Evidence from the COVID-19 Pandemic

Credit Supply and House Prices: Evidence from Mortgage Market Segmentation∗

We show that easier access to mortgage credit significantly increases house prices by using exogenous changes in the conforming loan limit as an instrument for easier credit supply and cheaper cost of credit. We find that houses that become eligible for financing with a conforming loan show an increase in house value of 1.1 dollars per square foot (for an average price per square foot of 224 do...

How to Minimize the Impact of Pandemic Events: Lessons From the COVID-19 Crisis

Severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2) is responsible for the current pandemic of coronavirus disease 2019 (COVID-19). This pandemic is characterized by a high variability in death rate (defined as the ratio between the number of deaths and the total number of infected people) across world countries. Several possible explanations have been proposed, but it is not clear whe...

Credit Spreads: Evidence from the Mortgage Market

Using micro-level data from the mortgage market, we examine yield spreads as a funnction of both credit risk and prepayment risk using a two-stage instrumental variable approach. Our results are consistent with findings in the finance literature that leverageinduced financial risk reflected in capital structure results in higher yield spreads on debt. In particular, borrowers with loan-to-value...

The COVID-19 Pandemic: Is It A Wolf Consuming Fertility?

Health Inequalities during the COVID-19 Pandemic

Pandemics are associated with significant and destructive national and global impacts on health, economy, society, and security. COVID-19 pandemic has imposed adverse economic consequences on the whole population. This is while the elderly and those with comorbidities, the economically disadvantaged and ethnic minorities were at increased risk of viral infection. Moreover, the mortality rate an...