dc.contributor.advisor | Campbell, John Y. | |
dc.contributor.advisor | Glaeser, Edward | |
dc.contributor.advisor | Chodorow-Reich, Gabriel | |
dc.contributor.advisor | Hanson, Samuel G. | |
dc.contributor.author | Reher, Michael | |
dc.date.accessioned | 2019-12-12T08:20:48Z | |
dc.date.created | 2019-05 | |
dc.date.issued | 2019-05-06 | |
dc.date.submitted | 2019 | |
dc.identifier.citation | Reher, Michael. 2019. Essays on Mortgage and Housing Markets. Doctoral dissertation, Harvard University, Graduate School of Arts & Sciences. | |
dc.identifier.uri | http://nrs.harvard.edu/urn-3:HUL.InstRepos:42029539 | * |
dc.description.abstract | This dissertation consists of three essays that investigate the relationship between financial intermediaries, households, and real activity. In the first chapter, Pedro Gete and I show how reductions in the supply of mortgage credit increase rent growth and lower homeownership rates. We identify the effect using geographic variation in exposure to a regulation-induced contraction in bank lending. The second chapter, also joint with Pedro Gete, shows how a regulation-induced increase in the liquidity of mortgage-backed securities lowers shadow banks' lending standards and thus raises their market share. In the third chapter, I show that greater supply of financing for residential improvement projects has increased rental housing quality during a period when quality accounts for a significant share of real rent growth. I arrive at this finding by studying two natural experiments that increase the supply of bank credit and private equity financing for residential improvement projects. A common conclusion throughout these three essays is that financial intermediaries affect households and real activity through the market for real estate financing. | |
dc.description.sponsorship | Economics | |
dc.format.mimetype | application/pdf | |
dc.language.iso | en | |
dash.license | LAA | |
dc.subject | Financial Intermediaries | |
dc.subject | Household Finance | |
dc.subject | Real Investment | |
dc.subject | Real Estate | |
dc.subject | Financial Regulation | |
dc.title | Essays on Mortgage and Housing Markets | |
dc.type | Thesis or Dissertation | |
dash.depositing.author | Reher, Michael | |
dc.date.available | 2019-12-12T08:20:48Z | |
thesis.degree.date | 2019 | |
thesis.degree.grantor | Graduate School of Arts & Sciences | |
thesis.degree.grantor | Graduate School of Arts & Sciences | |
thesis.degree.level | Doctoral | |
thesis.degree.level | Doctoral | |
thesis.degree.name | Doctor of Philosophy | |
thesis.degree.name | Doctor of Philosophy | |
dc.type.material | text | |
thesis.degree.department | Economics | |
thesis.degree.department | Economics | |
dash.identifier.vireo | | |
dash.author.email | mreher99@gmail.com | |