Lu Liu

University of Pennsylvania - Finance Department

The Wharton School

3620 Locust Walk

Philadelphia, PA 19104

United States

  • University of Pennsylvania - Finance Department

SCHOLARLY PAPERS

8

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6,153

TOTAL CITATIONS
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Top 13,747

in Total Papers Citations

29

Scholarly Papers (8)

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1.

Reference Dependence in the Housing Market

Downloads 1,942 (18,104)
Citation 8

Reference Dependence in the Housing Market

Number of pages: 149 Posted: 14 Jun 2019 Last Revised: 01 Sep 2022
Steffen Andersen, Cristian Badarinza, Lu Liu, Julie Marx and Tarun Ramadorai
Copenhagen Business School - Department of Finance, National University of Singapore (NUS), University of Pennsylvania - Finance Department, Copenhagen Business School and Imperial College London
Downloads 1,940 (17,808)
Citation 8

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housing, mortgages, loss aversion, reference dependence, down-payment constraints

Reference Dependence in the Housing Market

CEPR Discussion Paper No. DP14147
Number of pages: 153 Posted: 04 Dec 2019 Last Revised: 29 Mar 2022
Steffen Andersen, Cristian Badarinza, Lu Liu, Julie Marx and Tarun Ramadorai
Copenhagen Business School - Department of Finance, National University of Singapore (NUS), University of Pennsylvania - Finance Department, Copenhagen Business School and Imperial College London
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down-payment constraints, housing, loss aversion, Mortgages, reference dependence

2.

Mortgage Lock-In, Mobility, and Labor Reallocation

Journal of Finance, Forthcoming, Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 101 Posted: 07 Apr 2023 Last Revised: 17 Sep 2024
Julia Fonseca and Lu Liu
University of Illinois at Urbana-Champaign and University of Pennsylvania - Finance Department
Downloads 1,634 (23,611)
Citation 12

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Mortgages, housing lock-in, mobility, labor reallocation, monetary tightening JEL Codes: G21, G51, J62, R30, E58

3.

Refinancing Cross-Subsidies in the Mortgage Market

Number of pages: 81 Posted: 18 Nov 2021 Last Revised: 22 Dec 2023
Jack Fisher, Alessandro Gavazza, Lu Liu, Tarun Ramadorai and Jagdish Tripathy
Independent, London School of Economics & Political Science (LSE) - Department of Economics, University of Pennsylvania - Finance Department, Imperial College London and Bank of England
Downloads 710 (76,984)
Citation 6

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Mortgages, refinancing, cross-subsidies, wealth inequality, household inaction, household finance, inertia

4.

Unlocking Mortgage Lock-In: Evidence From a Spatial Housing Ladder Model 

Number of pages: 76 Posted: 28 Jun 2024 Last Revised: 18 Oct 2024
Julia Fonseca, Lu Liu and Pierre Mabille
University of Illinois at Urbana-Champaign, University of Pennsylvania - Finance Department and INSEAD - Finance
Downloads 639 (88,032)

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JEL classification: G5, R2, R3, E21, E44, E52, E61 lock-in, mortgages, house prices, home ownership, mobility, spatial equilibrium, macro-finance

5.

The Demand for Long-Term Mortgage Contracts and the Role of Collateral

Downloads 590 (97,432)

The Demand for Long-Term Mortgage Contracts and the Role of Collateral

Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
Number of pages: 73 Posted: 10 Jan 2023
Lu Liu
University of Pennsylvania - Finance Department
Downloads 558 (103,174)

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mortgage choice, house prices, credit risk, interest rate risk, household risk management, household finance

The Demand for Long-term Mortgage Contracts and the Role of Collateral

Bank of England Working Paper No. 1009, The Wharton School Research Paper
Number of pages: 75 Posted: 23 Mar 2023
Lu Liu
University of Pennsylvania - Finance Department
Downloads 32 (995,243)

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Mortgage choice, house prices, credit risk, interest rate risk, household risk management, household finance.

6.

Non-Salient Fees in the Mortgage Market

Downloads 401 (155,206)
Citation 2

Non-Salient Fees in the Mortgage Market

Number of pages: 60 Posted: 17 Aug 2019
Lu Liu
University of Pennsylvania - Finance Department
Downloads 343 (182,945)
Citation 1

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mortgages, household finance, price dispersion, salience, strategic pricing

Non-Salient Fees in the Mortgage Market

Bank of England Working Paper No. 819, September 2019
Number of pages: 61 Posted: 09 Sep 2019
Lu Liu
University of Pennsylvania - Finance Department
Downloads 58 (772,946)
Citation 1

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price dispersion, salience, strategic pricing, mortgages

7.

A Macro-Finance Model of Mortgage Structure: Financial Stability & Risk Sharing

Number of pages: 89 Posted: 08 Jan 2025 Last Revised: 18 Mar 2025
Vadim Elenev and Lu Liu
Johns Hopkins University and University of Pennsylvania - Finance Department
Downloads 207 (307,875)

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financial stability, interest rate risk, credit risk, fixed-rate, adjustable-rate mortgages, risk sharing, intermediary asset pricing, household finance, mortgages

8.

The Demand for Long-Term Mortgage Contracts and the Role of Collateral

ESRB: Working Paper Series 2023/142
Number of pages: 74 Posted: 02 Jul 2023
Lu Liu
University of Pennsylvania - Finance Department
Downloads 30 (989,566)
Citation 1

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credit risk, household finance, household risk management, house prices, interest rate risk, mortgage choice