Paul Willen

Federal Reserve Bank of Boston - Research Department

600 Atlantic Avenue

Boston, MA 02210

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

  • Federal Reserve Bank of Boston - Research Department

SCHOLARLY PAPERS

45

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513

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857

Scholarly Papers (45)

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1.

The Theory of Life-Cycle Saving and Investing

FRB of Boston Public Policy Discussion Paper No. 07-3
Number of pages: 27 Posted: 27 Jul 2007
Zvi Bodie, Jonathan Treussard and Paul Willen
Boston University - Department of Finance & Economics, Research Affiliates and Federal Reserve Bank of Boston - Research Department
Downloads 2,327 (6,774)
Citation 15

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2.

Subprime Facts: What (We Think) We Know about the Subprime Crisis and What We Don't

FRB of Boston Public Policy Discussion Paper No. 08-2
Number of pages: 57 Posted: 30 Jun 2008
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 1,525 (13,473)
Citation 25

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3.

Subprime Outcomes: Risky Mortgages, Homeownership Experiences, and Foreclosures

FRB of Boston Working Paper No. 07-15
Number of pages: 58 Posted: 16 Dec 2007
Kristopher Gerardi, Adam Hale Shapiro and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco and Federal Reserve Bank of Boston - Research Department
Downloads 1,196 (19,575)
Citation 115

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4.

Making Sense of the Subprime Crisis

Downloads 681 ( 43,505)
Citation 95

Making Sense of the Subprime Crisis

Brookings Papers on Economic Activity, Forthcoming, Federal Reserve Bank of Atlanta Working Paper No. 2009-2
Number of pages: 75 Posted: 22 Feb 2009
Kristopher Gerardi, Andreas Lehnert, Paul Willen and Shane Sherlund
Federal Reserve Bank of Atlanta, Board of Governors of the Federal Reserve System, Federal Reserve Bank of Boston - Research Department and Board of Governors of the Federal Reserve System
Downloads 553 (56,347)
Citation 17

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subprime, foreclosure, house prices, underwriting standards

Making Sense of the Subprime Crisis

FRB of Boston Public Policy Discussion Paper No. 09-1
Number of pages: 74 Posted: 13 Feb 2009
Kristopher Gerardi, Andreas Lehnert, Shane Sherlund and Paul Willen
Federal Reserve Bank of Atlanta, Board of Governors of the Federal Reserve System, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston - Research Department
Downloads 128 (255,174)
Citation 24

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5.

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

Downloads 416 ( 80,834)
Citation 41

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

Federal Reserve Bank of Boston Research Paper Series Public Policy Discussion Paper No. 06-6, Hudson Institute Research Paper No. 06-07
Number of pages: 59 Posted: 03 Oct 2006 Last Revised: 06 Aug 2008
Kristopher Gerardi, Harvey S. Rosen and Paul Willen
Federal Reserve Bank of Atlanta, Princeton University - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 309 (112,552)
Citation 3

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Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

NBER Working Paper No. w12967
Number of pages: 61 Posted: 15 Mar 2007 Last Revised: 22 Feb 2015
Kristopher Gerardi, Harvey S. Rosen and Paul Willen
Federal Reserve Bank of Atlanta, Princeton University - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 107 (291,114)
Citation 2

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6.

How Effective Were the Federal Reserve Emergency Liquidity Facilities? Evidence from the Asset-Backed Commercial Paper Money Market Mutual Fund Liquidity Facility

Journal of Finance, Forthcoming, FRB of Boston Quantitative Analysis Unit Working Paper No. 10-3
Number of pages: 59 Posted: 02 May 2010 Last Revised: 22 Feb 2012
Burcu Duygan-Bump, Patrick M. Parkinson, Eric S. Rosengren, Gustavo Suarez and Paul Willen
Board of Governors of the Federal Reserve System, Government of the United States of America - Division of Research and Statistics, Federal Reserve Bank of Boston - Supervision and Regulation, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston - Research Department
Downloads 413 (81,489)
Citation 8

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Federal Reserve, Financial Crisis, Discount Window, Money Market Mutual Funds, Commercial Paper, Asset-Backed Commercial Paper

7.

Unemployment, Negative Equity, and Strategic Default

Number of pages: 50 Posted: 13 Jul 2013
Kristopher Gerardi, Kyle Herkenhoff, Lee E. Ohanian and Paul Willen
Federal Reserve Bank of Atlanta, University of Minnesota - Minneapolis, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 330 (105,383)
Citation 22

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unemployment, employment, job loss, assets, mortgage, modifications, default, strategic, strategic default, negative equity, trigger, single trigger, double trigger, liquidity constraint, mortgage default, delinquency, PSID, mortgage distress, financial liquidity, negative equity and unemployment

8.

Occupation-Level Income Shocks and Asset Returns: Their Covariance and Implications for Portfolio Choice

Downloads 287 (122,427)
Citation 13

Occupation-Level Income Shocks and Asset Returns: Their Covariance and Implications for Portfolio Choice

Number of pages: 71 Posted: 26 Oct 2000
Steven J. Davis and Paul Willen
University of Chicago and Federal Reserve Bank of Boston - Research Department
Downloads 255 (137,925)
Citation 14

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Occupation-Level Income Shocks and Asset Returns: Their Covariance and Implications for Portfolio Choice

NBER Working Paper No. w7905
Number of pages: 70 Posted: 16 Sep 2000 Last Revised: 19 Oct 2010
Steven J. Davis and Paul Willen
University of Chicago and Federal Reserve Bank of Boston - Research Department
Downloads 32 (534,431)

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9.

Borrowing Costs and the Demand for Equity Over the Life Cycle

Downloads 286 (122,881)
Citation 37

Borrowing Costs and the Demand for Equity Over the Life Cycle

AFA 2004 San Diego Meetings , FRB of Boston Working Paper No. 05-7
Number of pages: 42 Posted: 30 Dec 2003
Steven J. Davis, Felix Kubler and Paul Willen
University of Chicago, University of Zurich and Federal Reserve Bank of Boston - Research Department
Downloads 241 (145,788)
Citation 12

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Borrowing Costs and the Demand for Equity Over the Life Cycle

NBER Working Paper No. w9331
Number of pages: 45 Posted: 16 Nov 2002 Last Revised: 30 Oct 2010
Steven J. Davis, Felix Kubler and Paul Willen
University of Chicago, University of Zurich and Federal Reserve Bank of Boston - Research Department
Downloads 45 (470,455)
Citation 7

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10.

Subprime Mortgages, Foreclosures, and Urban Neighborhoods

Downloads 271 (130,114)
Citation 22

Subprime Mortgages, Foreclosures, and Urban Neighborhoods

FRB of Boston Public Policy Discussion Paper No. 08-6
Number of pages: 38 Posted: 08 Jan 2009
Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 215 (162,854)
Citation 11

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Subprime Mortgages, Foreclosures, and Urban Neighborhoods

Berkeley Electronic Journal of Economic Analysis & Policy, Vol. 9, No. 3, 2009 , Federal Reserve Bank of Atlanta Working Paper Series No. 2009-1
Number of pages: 39 Posted: 27 Aug 2009
Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 56 (426,662)
Citation 2

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subprime, foreclosure, minority, homeownership

11.

Reasonable People did Disagree: Optimism and Pessimism About the U.S. Housing Market Before the Crash

FRB of Boston Public Policy Discussion Paper No. 10-5
Number of pages: 32 Posted: 16 Oct 2010
Kristopher Gerardi, Christopher L. Foote and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 264 (133,649)
Citation 15

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12.

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures, and Securitization

Downloads 247 (142,952)
Citation 32

Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures, and Securitization

FRB of Boston Public Policy Discussion Paper No. 09-4, Federal Reserve Bank of Atlanta Working Paper 2009-17
Number of pages: 41 Posted: 17 Jul 2009 Last Revised: 30 May 2015
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 212 (165,035)
Citation 34

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Why Don't Lenders Renegotiate More Home Mortgages? Redefaults, Self-Cures and Securitization

NBER Working Paper No. w15159
Number of pages: 42 Posted: 21 Jul 2009 Last Revised: 30 May 2015
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 35 (518,009)

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13.

The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

Downloads 239 (147,549)
Citation 6

The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

FRB Atlanta Working Paper No. 2015-3
Number of pages: 57 Posted: 13 Apr 2015
W. Scott Frame, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Dallas, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 161 (211,623)
Citation 7

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Bank supervision, stress test, model risk, residential mortgages, government-sponsored enterprises

The Failure of Supervisory Stress Testing: Fannie Mae, Freddie Mac, and OFHEO

FRB of Boston Working Paper No. 15-4
Number of pages: 55 Posted: 19 Oct 2015
W. Scott Frame, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Dallas, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 78 (356,909)

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bank supervision, stress test, model risk, residential mortgages, government-sponsored enterprises

14.

Negative Equity and Foreclosure: Theory and Evidence

FRB of Boston Public Policy Discussion Paper No. 08-3
Number of pages: 36 Posted: 30 Jun 2008
Christopher L. Foote, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 239 (147,549)
Citation 86

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15.

Educational Opportunity and Income Inequality

Downloads 221 (159,002)
Citation 9

Educational Opportunity and Income Inequality

FRB of Boston Public Policy Discussion Paper No. 04-5
Number of pages: 37 Posted: 04 Mar 2006
Igal Hendel, Joel Shapiro and Paul Willen
Northwestern University - Department of Economics, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and Federal Reserve Bank of Boston - Research Department
Downloads 167 (205,077)
Citation 1

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education signaling, college premium, college loans

Educational Opportunity and Income Inequality

NBER Working Paper No. w10879
Number of pages: 38 Posted: 29 Oct 2004 Last Revised: 14 Nov 2004
Paul Willen, Igal Hendel and Joel Shapiro
Federal Reserve Bank of Boston - Research Department, Northwestern University - Department of Economics and Universitat Pompeu Fabra - Faculty of Economic and Business Sciences
Downloads 54 (434,104)

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16.

Reducing Foreclosures

FRB of Boston Public Policy Discussion Paper No. 09-2
Number of pages: 52 Posted: 21 May 2009
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 183 (189,323)
Citation 7

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17.

The Rising Gap between Primary and Secondary Mortgage Rates

Economic Policy Review, Vol. 19, No. 2, 2013
Number of pages: 23 Posted: 13 Jan 2014
Andreas Fuster, Laurie S. Goodman, David O. Lucca, Laurel Madar, Linsey Molloy and Paul Willen
Swiss National Bank - Financial Stability, The Urban Institute - Housing Finance Policy Center, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Emerging Markets and International Affairs Group and Federal Reserve Bank of Boston - Research Department
Downloads 168 (203,880)
Citation 2

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mortgages, banking

18.

Collateralized Borrowing and Life-Cycle Portfolio Choice

Downloads 151 (223,026)
Citation 1

Collateralized Borrowing and Life-Cycle Portfolio Choice

FRB of Boston Working Paper No. 06-4, AFA 2007 Chicago Meetings Paper
Number of pages: 48 Posted: 17 Mar 2006
Paul Willen and Felix Kubler
Federal Reserve Bank of Boston - Research Department and University of Zurich
Downloads 124 (261,432)

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portfolio choice, collateral

Collateralized Borrowing and Life-Cycle Portfolio Choice

NBER Working Paper No. w12309
Number of pages: 49 Posted: 14 Jul 2006 Last Revised: 21 Aug 2010
Paul Willen and Felix Kubler
Federal Reserve Bank of Boston - Research Department and University of Zurich
Downloads 27 (564,460)

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19.

Payment Size, Negative Equity, and Mortgage Default

Downloads 142 (234,321)
Citation 50

Payment Size, Negative Equity, and Mortgage Default

FRB of New York Staff Report No. 582
Number of pages: 61 Posted: 09 Dec 2012 Last Revised: 26 Jan 2015
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 127 (256,727)
Citation 7

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mortgage finance, delinquency, adjustable-rate mortgages, Alt-A

Payment Size, Negative Equity, and Mortgage Default

NBER Working Paper No. w19345
Number of pages: 67 Posted: 17 Aug 2013
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 15 (650,447)
Citation 18

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20.

Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early-Payment Defaults

Downloads 136 (242,639)
Citation 5

Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early-Payment Defaults

Federal Reserve Bank of Atlanta Working Paper Series No. 2010-8
Number of pages: 28 Posted: 06 May 2010 Last Revised: 30 May 2015
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 73 (370,931)
Citation 6

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foreclosure, mortgage, house prices

What Explains Differences in Foreclosure Rates? A Response to Piskorski, Seru, and Vig

FRB of Boston Working Paper No. 10-2
Number of pages: 16 Posted: 06 May 2010
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 63 (402,086)
Citation 4

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21.

Incomplete Markets and Trade

Number of pages: 21 Posted: 13 Jan 2005
Paul Willen
Federal Reserve Bank of Boston - Research Department
Downloads 128 (254,213)
Citation 3

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22.

$1.25 Trillion is Still Real Money: Some Facts About the Effects of the Federal Reserve’s Mortgage Market Investments

FRB of Boston Public Policy Discussion Paper No. 10-4
Number of pages: 55 Posted: 16 Oct 2010
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 126 (257,293)
Citation 36

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23.

Reducing Foreclosures: No Easy Answers

Downloads 122 (263,709)
Citation 22

Reducing Foreclosures: No Easy Answers

NBER Macroeconomics Annual, Vol. 24, 2009, Federal Reserve Bank of Atlanta Working Paper 2009-15
Number of pages: 53 Posted: 23 Aug 2009
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 87 (333,889)
Citation 23

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mortgage, foreclosure, modification, securitization

Reducing Foreclosures: No Easy Answers

NBER Working Paper No. w15063
Number of pages: 54 Posted: 16 Jun 2009 Last Revised: 30 Aug 2010
Christopher L. Foote, Kristopher Gerardi, Lorenz Goette and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta, University of Lausanne and Federal Reserve Bank of Boston - Research Department
Downloads 35 (518,009)

Abstract:

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24.

Mortgage-Default Research and the Recent Foreclosure Crisis

Downloads 116 (273,368)

Mortgage-Default Research and the Recent Foreclosure Crisis

FRB of Boston Working Paper No. 17-13
Number of pages: 56 Posted: 05 Dec 2017 Last Revised: 06 Dec 2017
Christopher L. Foote and Paul Willen
Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 116 (274,699)
Citation 3

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Mortgage default, foreclosures, housing boom and bust, financial crisis

Mortgage-Default Research and the Recent Foreclosure Crisis

Annual Review of Financial Economics, Vol. 10, pp. 59-100, 2018
Posted: 08 Nov 2018
Christopher L. Foote and Paul Willen
Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department

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25.

The Time-Varying Price of Financial Intermediation in the Mortgage Market

Downloads 106 (291,379)
Citation 8

The Time-Varying Price of Financial Intermediation in the Mortgage Market

FRB of NY Staff Report No. 805
Number of pages: 66 Posted: 20 Jan 2017 Last Revised: 31 Aug 2017
Andreas Fuster, Stephanie Lo and Paul Willen
Swiss National Bank - Financial Stability, Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 58 (419,430)
Citation 1

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mortgage finance, financial intermediation, monetary policy transmission

The Time-Varying Price of Financial Intermediation in the Mortgage Market

FRB of Boston Working Paper No. 16-28
Number of pages: 65 Posted: 17 Mar 2017 Last Revised: 30 Aug 2017
Andreas Fuster, Stephanie Lo and Paul Willen
Swiss National Bank - Financial Stability, Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 43 (479,444)

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mortgage finance, financial intermediation, monetary policy transmission

The Time-Varying Price of Financial Intermediation in the Mortgage Market

NBER Working Paper No. w23706
Number of pages: 66 Posted: 21 Aug 2017 Last Revised: 08 Sep 2017
Andreas Fuster, Stephanie Lo and Paul Willen
Swiss National Bank - Financial Stability, Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 5 (729,531)
Citation 2

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26.

Why Did so Many People Make so Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis

Downloads 100 (302,985)
Citation 41

Why Did so Many People Make so Many Ex Post Bad Decisions? The Causes of the Foreclosure Crisis

FRB Atlanta Working Paper No. 2012-7
Number of pages: 62 Posted: 22 Mar 2015
Christopher L. Foote, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 53 (437,969)

Abstract:

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financial crisis, mortgage, foreclosure, asymmetric information, mortgage-backed security (MBS), collaterized debt obligation (CDO)

Why Did so Many People Make so Many Ex Post Bad Decisions? the Causes of the Foreclosure Crisis

NBER Working Paper No. w18082
Number of pages: 63 Posted: 19 May 2012 Last Revised: 04 Jun 2012
Christopher L. Foote, Kristopher Gerardi and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department
Downloads 47 (461,865)
Citation 5

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27.

A Profile of the Mortgage Crisis in a Low-and-Moderate-Income Community

FRB of Boston Public Policy Discussion Paper No. 10-6
Number of pages: 20 Posted: 16 Oct 2010
Lynn M. Fisher, Lauren Lambie-Hanson and Paul Willen
Mortgage Bankers Association, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Boston - Research Department
Downloads 75 (361,399)
Citation 4

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28.

Social Security and Unsecured Debt

Downloads 75 (361,399)
Citation 7

Social Security and Unsecured Debt

FRB of Boston Public Policy Discussion Paper No. 04-10
Number of pages: 52 Posted: 04 Mar 2006
Erik Hurst and Paul Willen
University of Chicago - Booth School of Business and Federal Reserve Bank of Boston - Research Department
Downloads 48 (457,689)

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Social Security and Unsecured Debt

NBER Working Paper No. w10282
Number of pages: 57 Posted: 01 Feb 2004 Last Revised: 15 Aug 2014
Erik Hurst and Paul Willen
University of Chicago - Booth School of Business and Federal Reserve Bank of Boston - Research Department
Downloads 27 (564,460)
Citation 1

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29.

A Proposal to Help Distressed Homeowners: A Government Payment-Sharing Plan

FRB of Boston Public Policy Brief No. 09-1
Number of pages: 11 Posted: 14 Jul 2009
Christopher L. Foote, Jeffrey C. Fuhrer, Eileen Mauskopf and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston - Research Department
Downloads 73 (369,649)
Citation 3

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30.

Cross-Sectional Patterns of Mortgage Debt During the Housing Boom: Evidence and Implications

Downloads 56 (420,228)
Citation 10

Cross-Sectional Patterns of Mortgage Debt During the Housing Boom: Evidence and Implications

FRB of Boston Working Paper No. 16-12
Number of pages: 53 Posted: 23 Nov 2016
Christopher L. Foote, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 26 (570,965)

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Cross-Sectional Patterns of Mortgage Debt During the Housing Boom: Evidence and Implications

NBER Working Paper No. w22985
Number of pages: 81 Posted: 27 Dec 2016
Christopher L. Foote, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 20 (613,268)

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Cross-Sectional Patterns of Mortgage Debt during the Housing Boom: Evidence and Implications

FRB of Cleveland Working Paper No. 19-19
Number of pages: 67 Posted: 18 Oct 2019
Christopher L. Foote, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 10 (689,787)
Citation 11

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31.

Insuring Consumption Using Income-Linked Assets

Downloads 56 (420,228)
Citation 1

Insuring Consumption Using Income-Linked Assets

FRB of Boston Working Paper No. 10-1
Number of pages: 48 Posted: 09 Mar 2010
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 44 (474,889)
Citation 1

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Income Risk, Risk Sharing, Portfolio Choice, Financial Innovation

Insuring Consumption Using Income-Linked Assets

NBER Working Paper No. w15829
Number of pages: 46 Posted: 22 Mar 2010
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 12 (674,106)

Abstract:

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32.

Can't Pay or Won't Pay?: Unemployment, Negative Equity, and Strategic Default

Downloads 55 (423,717)
Citation 36

Can't Pay or Won't Pay?: Unemployment, Negative Equity, and Strategic Default

FRB of Boston Working Paper No. 15-13
Number of pages: 81 Posted: 25 Nov 2015
Kristopher Gerardi, Kyle Herkenhoff, Lee E. Ohanian and Paul Willen
Federal Reserve Bank of Atlanta, University of Minnesota - Minneapolis, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 32 (534,431)

Abstract:

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Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default

NBER Working Paper No. w21630
Number of pages: 74 Posted: 12 Oct 2015 Last Revised: 21 Oct 2015
Kristopher Gerardi, Kyle Herkenhoff, Lee E. Ohanian and Paul Willen
Federal Reserve Bank of Atlanta, University of Minnesota - Minneapolis, University of California, Los Angeles (UCLA) - Department of Economics and Federal Reserve Bank of Boston - Research Department
Downloads 23 (591,713)
Citation 17

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33.

Decomposing the Foreclosure Crisis: House Price Depreciation versus Bad Underwriting

FRB Atlanta Working Paper No. 2009-25
Number of pages: 47 Posted: 23 Mar 2015
Kristopher Gerardi, Adam Hale Shapiro and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of San Francisco and Federal Reserve Bank of Boston - Research Department
Downloads 52 (434,543)
Citation 19

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foreclosure, mortgage, house prices

34.

Technological Innovation in Mortgage Underwriting and the Growth in Credit: 1985–2015

FRB of Cleveland Working Paper No. 18-16
Number of pages: 71 Posted: 14 Dec 2018
Christopher L. Foote, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 51 (438,217)
Citation 4

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Mortgage underwriting, housing cycle, technological change, credit boom

35.

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

Downloads 41 (478,714)
Citation 39

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

FRB Atlanta Working Paper No. 2011-16a
Number of pages: 43 Posted: 22 Mar 2015
Kristopher Gerardi, Lauren Lambie-Hanson and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Boston - Research Department
Downloads 21 (606,045)
Citation 1

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foreclosure, mortgage, judicial, power of sale, right to cure

Do Borrower Rights Improve Borrower Outcomes? Evidence from the Foreclosure Process

NBER Working Paper No. w17666
Number of pages: 49 Posted: 17 Dec 2011 Last Revised: 04 Jul 2014
Kristopher Gerardi, Lauren Lambie-Hanson and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Boston - Research Department
Downloads 20 (613,268)
Citation 7

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36.

On the Gains to International Trade in Risky Financial Assets

NBER Working Paper No. w7796
Number of pages: 63 Posted: 19 Jul 2000 Last Revised: 02 Apr 2001
Steven J. Davis, Jeremy Nalewaik and Paul Willen
University of Chicago, Board of Governors of the Federal Reserve System and Federal Reserve Bank of Boston - Research Department
Downloads 36 (501,365)

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37.

Technological Innovation in Mortgage Underwriting and the Growth in Credit, 1985--2015

FRB of Boston Working Paper No. 19-11
Posted: 06 Dec 2019
Christopher L. Foote, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Boston, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 32 (521,342)

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mortgage underwriting, housing cycle, technological change, credit boom

38.

Foreclosure Externalities: Some New Evidence

Downloads 32 (521,342)
Citation 42

Foreclosure Externalities: Some New Evidence

NBER Working Paper No. w18353
Number of pages: 47 Posted: 08 Sep 2012 Last Revised: 04 Jul 2014
Kristopher Gerardi, Eric Rosenblatt, Paul Willen and Vincent Yao
Federal Reserve Bank of Atlanta, Federal National Mortgage Association (Fannie Mae) - Research, Federal Reserve Bank of Boston - Research Department and Georgia State University - J. Mack Robinson College of Business
Downloads 19 (620,688)
Citation 10

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Foreclosure Externalities: Some New Evidence

FRB Atlanta Working Paper No. 2012-11
Number of pages: 46 Posted: 22 Mar 2015
Kristopher Gerardi, Eric Rosenblatt, Paul Willen and Vincent Yao
Federal Reserve Bank of Atlanta, Federal National Mortgage Association (Fannie Mae) - Research, Federal Reserve Bank of Boston - Research Department and Georgia State University - J. Mack Robinson College of Business
Downloads 13 (666,217)
Citation 1

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foreclosure, mortgage, judicial, power of sale, right to cure

39.

Evaluating the Benefits of a Streamlined Refinance Program

Downloads 11 (655,788)

Evaluating the Benefits of a Streamlined Refinance Program

FRB of Cleveland Working Paper No. 20-21
Number of pages: 24 Posted: 08 Jul 2020
Kristopher Gerardi, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 9 (697,724)

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government-sponsored enterprises, refinancing, business cycles

Evaluating the Benefits of a Streamlined Refinance Program

Federal Reserve Bank of Boston Research Paper Series Current Policy Perspectives Paper No. 89267
Number of pages: 24 Posted: 31 Dec 2020
Kristopher Gerardi, Lara Loewenstein and Paul Willen
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston and Federal Reserve Bank of Boston - Research Department
Downloads 2 (758,074)

Abstract:

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40.

Evaluating Policies to Prevent Another Crisis: An Economist's View

NBER Working Paper No. w20100
Number of pages: 40 Posted: 14 May 2014
Paul Willen
Federal Reserve Bank of Boston - Research Department
Downloads 10 (662,912)

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41.

Do Lenders Still Discriminate? A Robust Approach for Assessing Differences in Menus

Number of pages: 59
David Hao Zhang and Paul Willen
Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 8

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Mortgage Discrimination, Fair Lending, Red-lining, Points, Interest Rate, Optimal Transport, Directional Differentiation, Menu Problem

42.

The Role of Proximity in Foreclosure Externalities: Evidence from Condominiums

NBER Working Paper No. w20080
Number of pages: 36 Posted: 28 Apr 2014
Lynn M. Fisher, Lauren Lambie-Hanson and Paul Willen
Mortgage Bankers Association, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Federal Reserve Bank of Boston - Research Department
Downloads 4 (706,818)
Citation 3

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43.

Identifying the Effect of Securitization on Foreclosure and Modification Rates Using Early Payment Defaults

Journal of Real Estate Finance and Economics, Vol. 49, No. 3, 2014
Posted: 03 Oct 2014
Manuel Adelino, Kristopher Gerardi and Paul Willen
Duke University, Federal Reserve Bank of Atlanta and Federal Reserve Bank of Boston - Research Department

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Early payment default; Foreclosure; Mortgage; Securitization

44.

Educational Opportunity and the College Premium

Posted: 11 Sep 2002
Igal Hendel, Joel Shapiro and Paul Willen
Northwestern University - Department of Economics, Universitat Pompeu Fabra - Faculty of Economic and Business Sciences and Federal Reserve Bank of Boston - Research Department

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45.

Mortgage Prepayment, Race, and Monetary Policy

Number of pages: 81
Kristopher Gerardi, Paul Willen and David Hao Zhang
Federal Reserve Bank of Atlanta, Federal Reserve Bank of Boston - Research Department and Harvard University
Downloads 0

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