Annual Conference

|

Household Finance

|

May 2026

Entrepreneurship on a Safety Net: Evidence from the World's Largest Cash Transfer Program

Murillo CAMPELLO, Guilherme JUNQUEIRA, Spyridon LAGARAS
Do social transfer programs boost entrepreneurship among low-income populations? We address this question by examining Brazil’s Bolsa Fam´ılia—the world’s largest cash transfer program—and its effects on entrepreneurial entry, performance, and economic mobility. Using administrative data c...
Keywords: Entrepreneurship, Human Capital, Finance and Development, Social Programs
  • View
  • Download
  •    |   

Annual Conference

|

Real Estate and Urban Economics

|

May 2026

Housing Markets and the Belief in Opportunity

Yeow Hwee CHUA, Wenyi ZHANG
We study how housing-market signals shape beliefs about economic opportunity. Using a randomized information experiment in Singapore, we vary exposure to housing price dynamics and housing-related policy signals, then elicit expected social mobility for children from low and high social-position fam...
Keywords: Social mobility expectations, Housing markets, belief formation, reference dependence, policy signals
  • View
  • Download
  •    |   

Annual Conference

|

Real Estate and Urban Economics

|

May 2026

The Expectation Channel of Mortgage Policy

Seongjin PARK
Mortgage-borrowing restrictions, including caps on loan-to-value (LTV) and payment-to-income (PTI) ratios, are widely understood to affect housing markets by tightening or relaxing household credit constraints. This paper shows that these policies also shape housing market outcomes by altering homeb...
Keywords: Housing Markets, Expectations, Macroprudential Policy, Mortgage Credit, Shadow Banking
  • View
  • Download
  •    |   

Annual Conference

|

Real Estate and Urban Economics

|

May 2026

Decision-Making by Women in Mortgage Repayment: Bargaining versus Tokenism

Sumit AGARWAL, Abhiman DAS, Pulak GHOSH, Anand SRINIVASAN, Man ZHANG
We study intra-household financial decision-making using a mortgage scheme specifically designed for women by India’s largest lender, the State Bank of India. The scheme offered a 5 bps discount for loans to women and increased the share of female borrowers by 25% within one year. We test whether ...
Keywords: gender equality, mortgage, nudge
  • View
  • Download
  •    |   

Annual Conference

|

Real Estate and Urban Economics

|

May 2026

Tech-driven Comparative Advantage: Evidence from Solar Expansion in China

Hanming FANG, Ming LI, Zoe YANG
This paper examines how large-scale solar deployment in China reshapes the spatial distribution of productive activity by alleviating electricity constraints and generating new sources of comparative advantage. We construct a novel dataset linking satellite-based measures of utility-scale photovolta...
Keywords: Solar Energy, Comparative Advantage, Electricity Markets, Firm Entry, Industrial Development
  • View
  • Download
  •    |