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Is allowing borrowers to suspend mortgage payments an effective way to stabilize the economy during a recession? In a new working paper, Omeed Maghzian and I attempt to…

This paper estimates the impact of household liquidity provision on macroeconomic stabilization using the 2020 CARES Act mortgage forbearance program. We leverage…

This paper is the first to give a detailed account of the variation of behavior across a large set of U.S. locations. Aside from a few articles that use simple variables to…

W00-5: The stock of residential units in the United States is constantly changing as units are added, demolished, or converted. This paper looks at the conversion of…