Mortgage Market Design

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Research Areas

Publication Details

Output type: Journal article

Author list: Campbell JY

Publisher: Oxford University Press

Publication year: 2013

Journal: Review of Finance (1572-3097)

Volume number: 17

Issue number: 1

Start page: 1

End page: 33

Number of pages: 33

ISSN: 1572-3097

eISSN: 1573-692X

Languages: English-Great Britain (EN-GB)

Unpaywall Data

Open access status: green

Full text URL: https://academic.oup.com/rof/article-pdf/17/1/1/26303403/rfs030.pdf

Abstract

This article explores the causes and consequences of cross-country variation in mortgage market structure. It draws on insights from several fields: urban economics, asset pricing, behavioral finance, financial intermediation, and macroeconomics. It discusses lessons from the credit boom, the challenges of mortgage modification in the aftermath of the boom, consumer financial protection, and alternative mortgage forms and funding models. The article argues that the USA has much to learn from mortgage finance in other countries, and specifically from the Danish implementation of the European covered bonds system.

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