Mortgage Market Design

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Mortgage Design in an Equilibrium Model of the Housing Market (2018, unknown): “Home equity is the largest component of wealth for most households, and mortgages tend to be their dominant source of credit, so the design of mortgages has an outsized effect on household balance sheets (Campbell, 2013).”
Market Power in Mortgage Lending and the Transmission of Monetary Policy (2013, background): “For instance, it has been argued that the efficacy of monetary policy may be hampered by the high indebtedness of households with fixed rate mortgages (Campbell, 2012; Calza, Monacelli, and Stracca, 2013).”
Failure to Refinance (2016, unknown): “However, failing to refinance can have broader macroeconomic repercussions as well ( Campbell, 2006 ). While the failure to refinance primarily represents a simple transfer from homeowners to investors in mortgage-backed securities, for several reasons this transfer might not be simply a zero-sum ga”
Restoring Rational Choice: The Challenge of Consumer Financial Regulation (2016, background): “Section III builds on an informal discussion in Campbell et al. (2011) to present an extremely simple welfare analysis of financial regulation in a stylized model with both rational and behavioral consumers.”