Display:
Sort By:

Annual Conference

|

Real Estate and Urban Economics

|

May 2025

Cracking Down, Pricing Up: Housing Supply in the Wake of Mass Deportation

Troup HOWARD, Mengqi WANG, Dayin ZHANG
US housing markets have faced a secular shortage of housing supply in the past decade, contributing to a steady decline in housing affordability. Most supply-side explanations in the literature have tended to focus on the distortionary effect of local housing regulations. This paper provides novel e...
Keywords: Housing Supply, Construction, Home Price, Immigration, Mass Deportation
  • View
  • Download
  •    |   

Annual Conference

|

Sustainable and Green Finance

|

May 2025

Coverage Neglect in Homeowners Insurance

J. Anthony COOKSON, Emily A. GALLAGHER , Philip MULDER
Most homeowners do not have enough insurance coverage to rebuild their house after a total loss. Using contract-level data from 24 homeowners insurance companies in Colorado, we show wide differences in average underinsurance across insurers that persist conditional on policyholder characteristics. ...
Keywords: Disaster Insurance, Disaster Recovery, Information Frictions and Limited Attention, Insurance Demand
  • View
  • Download
  •    |   

Annual Conference

|

Household Finance

|

May 2023

Countercyclical Income Risk and Portfolio Choices: Evidence from Sweden

Sylvain CATHERINE, Paolo SODINI, Yapei ZHANG
Using Swedish administrative panel data, we document that workers facing higher left-tail income risk when equity markets perform poorly are less likely to participate in the stock market and, conditional on participation, have lower equity shares. In line with theory, the relationship between cycli...
Keywords: Household finance, Asset pricing, Disaster risk, Labor income risk, Portfolio choices
  • View
  • Download
  •    |   

Annual Conference

|

Real Estate and Urban Economics

|

May 2025

Cost Pass-Through and Mortgage Credit: The Case of Guarantee Fees

Ankit KALDA, Gavin PEARSON, David SOVICH
Fannie Mae and Freddie Mac charge lenders “guarantee fees” to insure mortgages against credit risk. Using changes in guarantee fees as quasi-exogenous variation, we show that lenders completely pass through cost shocks to borrowers, on average, primarily via interest rates rather than upfront fe...
Keywords: mortgage lending, interest rates, origination charges, g-fee, cost Pass-through, distributive effects
  • View
  • Download
  •    |   

Annual Conference

|

Investment Finance, Senior Fellows/Fellows

|

May 2016

Cost of Bereavement: How Does Parental Loss Affect Mutual Fund Managers?

Shu TAO, Johan SULAEMAN, P. Eric YEUNG
This study examines whether bereavement, a common life experience, affect the performance and behaviors of mutual fund managers. We find that mutual fund return declines by around 3 percentage points around the parental deaths of fund managers. This underperformance persists for about one year, sugg...
Keywords: Life Experience, Bereavement, Emotions, Mutual fund, Fund Performance, Risk Taking
  • View
  • Download
  •    |