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NATIONAL BUREAU OF ECONOMIC RESEARCH
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Mortgage Design in an Equilibrium Model of the Housing Market

Adam M. Guren, Arvind Krishnamurthy, Timothy J. McQuade

NBER Working Paper No. 24446
Issued in March 2018

---- Acknowledgments ----

The authors would like to thank Chaojun Wang and Xuiyi Song for excellent research assistance and seminar participants at SED, SITE, Kellogg, Queen’s, Indiana, LSE, Boston University, HULM, Housing: Micro Data, Macro Problems, NBER Summer Institute Capital Markets and the Economy, CEPR Housing and the Macroeconomy, Chicago Booth Asset Pricing, UCLA, University of Pittsburgh, MIT Sloan, Wharton, the University of Pennsylvania, Tomasz Piskorski, Erwan Quintin, Jan Eberly, Alex Michaelides, Alexei Tchistyi, and Andreas Fuster for useful comments. Guren acknowledges research support from the National Science Foundation under grant #1623801 and from the Boston University Center for Finance, Law, and Policy. The views expressed herein are those of the authors and do not necessarily reflect the views of the National Bureau of Economic Research.

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