NATIONAL BUREAU OF ECONOMIC RESEARCH
NATIONAL BUREAU OF ECONOMIC RESEARCH

A Depressing Scenario: Mortgage Debt Becomes Unemployment Insurance

Casey B. Mulligan

NBER Working Paper No. 14514
Issued in November 2008

---- Acknowledgements -----

I appreciate the comments and patience of many University of Chicago students who experienced an even more burdensome exposition of these ideas. I will provide updates on this matter on my blog www.panic2008.net. The views expressed herein are those of the author(s) and do not necessarily reflect the views of the National Bureau of Economic Research.

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