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How Do Mortgage Refinances Affect Debt, Default, and Spending? Evidence from HARP

Publications associées (47)

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Motility as a tool to uncover mobility practices

Vincent Kaufmann, Guillaume Simon Joseph Drevon, Alexis Gumy, Eloi Antoine Maël Bernier

This paper investigate the causal relationships that exist between the motility, defined as the personal ability to be mobile (Kaufmann et al., 2015), and mobility behaviors. To do so, we use the first wave (2018) of the "national daily mobility panel" sur ...

2019

On the collapsibility of measures of effect in the counterfactual causal framework

Mats Julius Stensrud, Anders Huitfeldt

The relationship between collapsibility and confounding has been subject to an extensive and ongoing discussion in the methodological literature. We discuss two subtly different definitions of collapsibility, and show that by considering causal effect meas ...

2019

The Role of Technology in Mortgage Lending

Andreas Fuster

Technology-based (“FinTech”) lenders increased their market share of U.S. mortgage lending from 2% to 8% from 2010 to 2016. Using loan-level data on mortgage applications and originations, we show that FinTech lenders process mortgage applications 20% fast ...

2019

Tracking and Stress-Testing U.S. Household Leverage

Andreas Fuster

Housing equity is an important component of borrowers’ wealth and a critical determinant of their vulnerability to shocks. In this article, the authors use a unique, newly created data set to analyze the evolution of household leverage—defined here as the ...

2018

Can chance cause cancer? A causal consideration

Mats Julius Stensrud

The role of randomness, environment and genetics in cancer development is debated. We approach the discussion by using the potential outcomes framework for causal inference. By briefly considering the underlying assumptions, we suggest that the antagonisin ...

2017

Essays in Bank Financing

Yalda Sigrist

This thesis examines the optimal mode of financing for banks and financial institutions. The first chapter, which is a joint work with Prof. Jean-Charles Rochet, investigates how Systemically Important Financial Institutions (SIFIs) should be financed. The ...

EPFL2017

Exploring Selection Bias by Causal Frailty Models

Mats Julius Stensrud

Counter-intuitive associations appear frequently in epidemiology, and these results are often debated. In particular, several scenarios are characterized by a general risk factor that appears protective in particular subpopulations, for example, individual ...

2017

Payment Size, Negative Equity, and Mortgage Default

Andreas Fuster

This paper studies the treatment effect of monthly payment size on mortgage default, using a sample of adjustable-rate loans that experienced large payment reductions thanks to the recent low interest rate environment. Payment size has an economically larg ...

2017

Credit Supply and the Macroeconomy

Abhik Mukherjee

The policy response to the recent financial crisis has broadly focused on two themes: 1) Increasing the banking sectorsâ resilience to future financial shocks: 2) Improving credit availability to households and firms via lowering both short and long-term ...

EPFL2016

Venture Debt Financing: Determinants of the Lending Decision

Gaétan Jean A de Rassenfosse

Venture debt lending is a form of start-up financing that lies at the intersection of venture capital and traditional debt. We analyze the lending decision criteria of 55 senior U.S. venture debt lenders (VDLs) using a discrete choice experiment in order t ...

Wiley-Blackwell2016