Regional Heterogeneity and Monetary Policy

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The Aggregate Implications of Regional Business Cycles (2019, unknown): “Nakamura and Steinsson (2014) and Chodorow-Reich (2018) use sub-national US variation to inform the size of local government spending multipliers.”
Liquidity versus Wealth in Household Debt Obligations: Evidence from Housing Policy in the Great Recession (2020, background): “It reflects the moral and social stigma associated with defaulting on debt 14Beraja et al. (2019) document a related channel: underwater borrowers are usually not able to refinance their mortgages. See Carroll (1992) and Aiyagari (1994) for discussions of natural borrowing limits.”
Mortgage Design in an Equilibrium Model of the Housing Market (2018, unknown): “Beraja et al. (2019) provide empirical evidence for this hypothesis by analyzing the impact of monetary policy during the Great Recession and study the interaction between monetary policy and mortgage design.”
How Quantitative Easing Works: Evidence on the Refinancing Channel (2016, unknown): “Our workhorse data source is the Equifax’s Credit Risk Insight Servicing McDash (CRISM) dataset, which covers roughly 65 percent of the mortgage market during our sample period (2008-2014), first used to examine the effects of QE1 by Beraja et al. (2018). One of the features of this dataset is that ”