R21

Elliot Anenberg · Tess Scharlemann · Eileen van Straelen

Does monetary policy stimulate household borrowing and consumption by enabling cash-out mortgage refinancing ("the cash-out refinance channel"), or does it primarily induce substitution across …

Andrii Parkhomenko

This paper asks why job polarization and income inequality are higher in large U.S. cities, and proposes a novel housing-market mechanism that operates independently of — but interacts with — the …

Boaz Abramson · Stijn Van Nieuwerburgh

Abramson and Van Nieuwerburgh study Rent Guarantee Insurance (RGI), a product in which an insurer pays the landlord on behalf of a tenant who defaults on rent due to a negative income or health …

Lu Han · L. Rachel Ngai · Kevin D. Sheedy

Using sales and leasing transaction records for the Greater Toronto Area (2006–2018), this paper finds three novel effects of a higher property transaction tax: higher buy-to-rent transactions …