The Consequences of Mortgage Credit Expansion: Evidence from the 2007 Mortgage Default Crisis
---- Acknowledgements -----
We gratefully acknowledge financial support from the Initiative on Global Markets at the University of Chicago Graduate School of Business and the IBM Corporation. The data analysis was made possible by the generous help of Myra Hart (Equifax Predictive Services), Jim DiSalvo (Philadelphia Fed), Robert Shiller, Cameron Rogers (Fiserv), Greg Runk (CapIndex), and David Stiff (Fiserv). We thank Mitch Berlin, Jonathan Guryan, Bob Hunt, Erik Hurst, Doug Diamond, Raghu Rajan, Josh Rauh, and participants at the Chicago GSB finance lunch, Chicago GSB applied economics lunch, Emory University, and the Federal Reserve Bank of Philadelphia for comments and feedback. We also thank Sim Wee, Rafi Nulman, and Smitha Nagaraja for excellent research assistance. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.