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Figure B.1: Census Division Map, taken from https://www.census.gov/geo/ maps-data/maps/pdfs/reference/us_regdiv.pdf. The Divisions are from left to right Pacific, Moutain, West North Central, West South Central, East North Central, East South Central, New England, Middle Atlantic and South Atlantic.
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This thesis is about the role of housing as a consumption good and a risky asset, and how it interacts with other choices like consumption, default, and migration over the lifecycle. In the first chapter the focus is on a quasi natural experiment in the State of Nevada, which abolished deficiency judgments for purchase mortgage loans made after Oct...
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This paper measures the welfare effects of removing the mortgage interest deduction under a variety of implementation scenarios. To this end, we build a life-cycle model with heterogeneous households calibrated to the U.S. economy, which features long-term mortgages and costly refinancing. In line with previous research, we find that most household...
