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Markus' Academy · Yesterday · 1 hr 11 min

Mortgage Choice and Monetary Policy | Markus' Academy | Ep. 111

Follow the link for the full summary: https://markusacademy.substack.com/p/mortgage-choice-and-monetary-policy Link to sign up for the webinar series: https://markusacademy.substack.com/ On May 4, 2023, John Campbell joined Markus’ Academy for a lecture on the U.S. mortgage system. Campbell is the Morton L. and Carole S. Olshan Professor of Economics at Harvard University, where he has taught since 1994. Timestamps:[0:00] Introduction[6:35] A prosecution case against the U.S. mortgage system [12:59] 1. The U.S. mortgage system is a weak monetary transmission channel[23:44] 2. Refinancing worsens inequality[39:41] 3. FRMs can lead to financial instability[48:10] 4. FRMs can lead to lock-in effects.[54:19] What do people prefer? FRMs or ARMs? [58:20] Policy suggestions

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Follow the link for the full summary:

https://markusacademy.substack.com/p/mortgage-choice-and-monetary-policy

Link to sign up for the webinar series:

https://markusacademy.substack.com/


On May 4, 2023, John Campbell joined Markus’ Academy for a lecture on the U.S. mortgage system. Campbell is the Morton L. and Carole S. Olshan Professor of Economics at Harvard University, where he has taught since 1994.


Timestamps:[0:00] Introduction[6:35] A prosecution case against the U.S. mortgage system [12:59] 1. The U.S. mortgage system is a weak monetary transmission channel[23:44] 2. Refinancing worsens inequality[39:41] 3. FRMs can lead to financial instability[48:10] 4. FRMs can lead to lock-in effects.[54:19] What do people prefer? FRMs or ARMs? [58:20] Policy suggestions

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