-structural macroeconomic model in order to analyse the implications of mortgage debt dynamics on economic fluctuations and financial stability …

the same region but do not experience collateral shocks: (i) renters and (ii) homeowners with a mortgage outstanding, who … - in France - cannot take out a second mortgage on their house. In both comparisons, we find that an increase in collateral …

Nonlocal mortgage lenders with greater exposure to high-growth housing markets accept fewer loan applications in these … lenders' exposure to high-growth markets is associated with more risk, more efficiency, and more return on mortgage portfolios …