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Annual Conference

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Household Finance

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May 2026

We study how households choose between three mortgage contracts with different payment structures: fixed-rate fixed-payment, variable-rate variable-payment, and a hybrid variable-rate fixed-payment mortgage where interest rate changes affect principal repayment rather than payment size. This hybrid ...
Keywords: mortgage choice, household welfare, contract design
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Annual Conference

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Household Finance

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May 2024

Does household leverage matter for workers’ job search, matching in the labor market, and wages? Theoretically, household leverage has been shown to have opposing effects on the labor market through, among others, a debt-overhang and a liquidity constraint channel. To test which channels dominate ...
Keywords: Household leverage, household debt, job displacement, job search, macroprudential policy, wages.
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Annual Conference

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Household Finance

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May 2025

We examine the impact of financial influencers (“finfluencers”) on retail investment with detailed data from actual investment decisions in four Nordic countries. Using an instrument that randomly assigns influencers to followers, we find the following: (1) Investors tend to follow influencers w...
Keywords: Social network, retail trading, financial influencers
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Annual Conference

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Household Finance

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May 2023

Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 bankruptcy until the Supreme Court disallowed this practice in 1993. We investigate the impact of mortgage cramdown on household distress exploiting the random assignment of cases to judge...
Keywords: Debt Relief, Principal Reduction, Debt Overhang, Foreclosures, Consumer Bankruptcy, Housing Policies
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Annual Conference

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Household Finance

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May 2025

This paper provides causal evidence for the impact of sales channels on insurance product adoption. Specifically, we utilize policy-level data provided by one of the largest life insurers in China, where we observe granular information on policy features and investor characteristics. We then exploit...
Keywords: Insurance Market, Household Finance, Life Insurnace, Annuity
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