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BEGIN:VEVENT
UID:13de91065df557bbb47bb0fd60d969a8
CATEGORIES:Seminars
CREATED:20150107T110040
SUMMARY:Giorgio Primiceri - Northwestern University
DESCRIPTION;ENCODING=QUOTED-PRINTABLE:<p style="margin-bottom: 0.0001pt; line-height: normal; text-align: justify
 ;"><strong><span style="font-size: 12pt; font-family: 'Times New Roman','se
 rif';">Credit Supply and the Housing Boom</span></strong></p><p style="marg
 in-bottom: 0.0001pt; line-height: normal; text-align: justify;"><span style
 ="font-size: 12pt; font-family: 'Times New Roman','serif';">Abstract:</span
 ></p><p style="margin-bottom: 0.0001pt; line-height: normal; text-align: ju
 stify;"><span style="font-size: 12pt; font-family: 'Times New Roman','serif
 ';">The housing boom that preceded the Great Recession was due to a progres
 sive loosening of lending constraints in the residential mortgage market. T
 his view is consistent with a number of empirical observations, such as the
  rapid increase in house prices and household debt, the stability of debt r
 elative to collateral values, and the fall in mortgage rates. These empiric
 al facts are difficult to reconcile with the popular view that attributes t
 he housing boom to a loosening of borrowing constraints associated with low
 er collateral requirements.</span></p><p> </p>
DTSTAMP:20260405T144009Z
DTSTART:20140519T173000Z
DTEND:20140519T190000Z
SEQUENCE:0
TRANSP:OPAQUE
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