Mortgage Market Design

Harvard University

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Date Published 2012
Primary Author John Y. Campbell
Other Authors
Theme Comparing Housing Finance Systems


This paper explores the causes and consequences of cross-country variation in mortgage market structure. It draws on insights from several ?elds: urban economics, asset pricing, behavioral ?nance, ?nancial intermediation, and macroeconomics. It argues that the US has much to learn from the experience of other countries, and calls for deliberate experimentation with mortgage market design.

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