Risk Heterogeneity and Credit Supply: Evidence from the Mortgage Market
Chapter in NBER book NBER Macroeconomics Annual 2012, Volume 27 (2013), Daron Acemoglu, Jonathan Parker, and Michael Woodford, editors (p. 375 - 419)
---- Acknowledgements ----
Paolo Surico gratefully acknowledges financial support from the European Research Council (ERC) Starting Independent Grant - Agreement 263429.
---- Disclosure of Financial Relationships for Timothy Besley ----
This work was started while I was a member of the Bank of England Monetary Policy Committee.