The volatility of the business cycle and an extreme shortage of housing were the twin problems of American economic life in the years following the First World War. Under the…
In the years immediately following the First World War, economists in industry, government, and academia came to perceive data as the antidote to the interrelated crises…
Alexander Hermann, Thomas Shay Hill
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May 18, 2021
Home prices across the US rose significantly during the pandemic, bolstered by historically low interest rates, strong demand, and the tightest supply conditions seen in 40…
In the wake of the Great Recession, US monetary policy focused in large measure on purchases of mortgage-backed securities, with the goal of lowering mortgage rates. The…
This paper seeks to refine our understanding of how refinancing a mortgage affects household outcomes. This issue has attracted particular attention in the wake of the Great…