Mortgage Market Design
نویسنده
چکیده
This paper explores the causes and consequences of cross-country variation in mortgage market structure. It draws on insights from several elds: urban economics, asset pricing, behavioral nance, nancial intermediation, and macroeconomics. It discusses lessons from the credit boom, the challenges of mortgage modi cation in the aftermath of the boom, consumer nancial protection, and alternative mortgage forms and funding models. The paper argues that the US has much to learn from mortgage nance in other countries, and speci cally from the Danish implementation of the European covered bonds system. JEL classi cation: G21, R21, R31.
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