The Political Economy of the U.S. Mortgage Default Crisis
---- Acknowledgements -----
The authors would like to thank Alberto Alesina, Paul Beaudry, Matilde Bombardini, Patrick Francois, David Lucca, Don Morgan, Torsten Persson, Riccardo Puglisi, and Guido Tabellini for useful comments and discussion. We would also like to thank seminar participants at Bocconi University, Chicago GSB, the Federal Reserve Banks of Kansas City and New York, the University of Maryland, Princeton University, Stockholm University, and the World Bank for comments. We are grateful to the Initiative on Global Financial Markets at Chicago GSB for financial support. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.