Antoinette Schoar, 11 February 2020

Understanding the origins of the American housing crisis of 2007 has been a challenge for economists and policy makers.

Richard Baldwin, 20 November 2007

In a May 2007 essay, Martin Feldstein argued that a drop in US mortgage refinancing would raise US personal saving and this would necessitate a fall in the dollar. That’s looking pretty good at the moment. Here his basic logic is explained.

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CEPR Policy Research