Location, Location, and Pacification: The Effect of Crime Reduction on Residential Property Value
In this post, we document the relationship between crime and house prices in the city of Rio de Janeiro, Brazil. One fully expects crime, as a public “bad,” to exert a downward force on prices; indeed, this is a common finding in the literature on amenity valuation.
Historical Echoes: The Creation of the Contemporary U.S. Mortgage
Residential mortgages, as they are known in the United States, are fairly modern creatures.
CCAR: More than a Stress Test
The Federal Reserve recently released the results of its latest stress test of large bank holding companies (BHCs).