The relative popularity of adjustable-rate mortgages (ARMs) and fixed-rate mortgages (FRMs) varies considerably both across countries and over time. We ask how movements in current and expected future interest rates affect the share of ARMs in total mortgage issuance. Using a nine-country panel...

Correspondence tests have been used by scholars and civil rights organizations to measure ethnic discrimination. In contrast to research testing covering a whole market through many discrimination tests, litigation testing typically targets a single agent, which can only be tested through a very...

This paper analyzes whether housing-related macroprudential policy has heterogeneous effects on house price growth in local housing markets. More specifically, we employ an extensive dataset of Belgian municipalities containing a multitude of drivers of local house price dynamics and examine the...