| Article ID | Journal | Published Year | Pages | File Type |
|---|---|---|---|---|
| 965762 | Journal of Macroeconomics | 2015 | 23 Pages |
Abstract
Next, I analyze how mortgage loan modification policies, after a sudden drop in house prices, affect household choices in the mortgage and unsecured loan markets. The quantitative exercise shows that the government-driven mortgage modification program, initiated in 2009, reduces the mortgage default rate by 0.27% points. However, this increases the unsecured loan charge-off rate by 0.66% points.
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Social Sciences and Humanities
Economics, Econometrics and Finance
Economics and Econometrics
Authors
Jiseob Kim,