NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

NBER Working Papers by Richard Todd

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Working Papers

December 2007Mortgage Broker Regulations That Matter: Analyzing Earnings, Employment, and Outcomes for Consumers
with Morris M. Kleiner: w13684
As the role of mortgage brokers in mortgage origination grew from insignificant in the 1980s to dominant in recent years, questions have arisen about whether its services help or harm consumers. In response, states have increasingly regulated the business, largely by creating and tightening occupational licensing requirements for mortgage brokers. The question of whether increased occupational licensing of mortgage brokers improves consumer outcomes is theoretically ambiguous and has been little studied empirically. This study introduces a new database of mortgage broker licensing requirements and assesses the relationships between these requirements and outcomes in both the labor market for brokers and the consumer market for mortgages. We find that one typical regulation—the requirement ...

Published: Mortgage Broker Regulations That Matter: Analyzing Earnings, Employment, and Outcomes for Consumers, Morris M. Kleiner, Richard M. Todd. in Studies of Labor Market Intermediation , Autor. 2009

December 2000The Conventional Treatment of Seasonality in Business Cycle Analysis: Does it Create Distortions?
with Lawrence J. Christiano: t0266
'No.' So says one model that is broadly consistent with postwar U.S. seasonal and business cycle data.

Published: Christiano, Lawrence J. and Richard M. Todd. "The Conventional Treatment Of Seasonality In Business Cycle Analysis: Does It Create Distortions?," Journal of Monetary Economics, 2002, v49(2,Mar), 335-364.

Contact and additional information for this authorAll NBER papers and publicationsNBER Working Papers only

 
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