Results

CEP discussion paper

Adoption, incidence and welfare impacts of interest-free loans: evidence from solar PV

Steep declines in solar PV costs raises questions about whether, and how, to continue support. We leverage administrative microdata on the near-universe of UK domestic PV and a matched difference-in-differences design ex...Read more...

Blog

Economics Observatory:

UK higher education finance: what's the problem and what can be done?

The tripling of tuition fees in 2012 put universities in a strong financial position. But since then, fees - and the maintenance loans that support students - haven't kept up with inflation. Now, students face real hards...Read more...

Blog

VOX EU:

The housing consumption channel of mortgage demand

Many housing markets have experienced a dramatic rise in house prices and mortgage debt over recent decades that has outpaced average income growth. Increased wealth and increased collateral values have been cited as pos...Read more...

CEP discussion paper

Housing-consumption channel of mortgage demand

We quantify the housing-consumption channel in mortgage demand according to which households borrow more following house-price increases since housing and non-housing consumption are imperfect substitutes. To identify th...Read more...

Journal article

American Economic Journal: Applied Economics:

Neighbors' effects on university enrollment

This paper provides causal evidence that close neighbors signigicantly influence potential applicants' decision to attend university. I create a unique dataset combining detailed geographic information and individual edu...Read more...

Blog

Economics Observatory:

How would minimum entry grades affect opportunities in higher education?

The UK government is consulting on the introduction of minimum eligibility requirements for access to student loans. Claire Crawford and Gill Wyness argue that if such a reform is introduced, it is likely to prevent many...Read more...

CEP discussion paper

Judge dread: court severity, repossession risk and demand in mortgage and housing markets

We study the impact of borrower protection on mortgage and housing demand. We focus on variation in the likelihood that a house is repossessed - conditional on the mortgage being in arrears and taken to court - coming fr...Read more...

CEP discussion paper

Affordability, financial innovation and the start of the housing boom

At their peak in 2005, roughly 60 percent of all purchase mortgage loans originated in the United States contained at least one non-traditional feature. These features, which allowed borrowers easier access to credit thr...Read more...

Journal article

International Economics:

Relaxing credit constraints in emerging economies: the impact of public loans on the productivity of Brazilian manufacturers

In emerging economies credit constraints are often perceived as one of the most important market frictions hampering firm productivity growth in manufacturing. Huge amount of public money is devoted to the removal of suc...Read more...

Journal article

Journal of Urban Economics:

Mortgage debt and entrepreneurship

We study the link between mortgage debt and entrepreneurship using a model of occupational choice and housing tenure in a setting where loans are recourse?like in the UK and several US states. Our model shows that as lon...Read more...

CEP discussion paper

Relaxing credit constraints in emerging economies: the impact of public loans on the performance of Brazilian manufacturers

n emerging economies credit constraints are often perceived as one of the most important market frictions hampering firm innovation and productivity growth in manufacturing. Huge amounts of public money are devoted to th...Read more...

SERC/Urban and Spatial Programme Discussion Paper

The Mortgage Interest Deduction and its Impact on Homeownership Decisions

This paper examines the impact of the combined U.S. state and federal mortgage interest deduction (MID) on homeownership attainment, using data from 1984 to 2007 and exploiting variation in the subsidy across states, ove...Read more...

SERC/Urban and Spatial Programme Discussion Paper

Modelling and Forecasting UK Mortgage Arrears and Possessions

This paper presents new models for aggregate UK data on mortgage possessions (foreclosures) and mortgage arrears (payment delinquencies). The innovations include the treatment of difficult to observe variations in loan q...Read more...

CEE/Education and skills discussion paper

Interest Subsidies on Student Loans: A Better Class of Drain

Read more...

CEE/Education and skills discussion paper

The effects of higher education funding reforms on the lifetime incomes of graduates

This paper undertakes a quantitative analysis of substantial reforms to the system of higher education (HE) finance first announced in 2004 and then revised again in July 2007. The reforms introduced deferred fees for HE...Read more...