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DTSTAMP:20240501T091213Z
SUMMARY:Dr. Pedro Gete\, IE Business School 
DESCRIPTION: \n\nDr. Gete will present MORTGAGE FINANCE\, LIQUIDITY TRAPS\n
 \nABSTRACT We quantify that the recourse mortgages dominant in the\nEurope
 an housing systems can account for 38% of the post\nGreat-Recession gap in
  per capita consumption between the USA and\nEurope. The result is mostly 
 accounted for by general equilibrium\neffects through lower housing prices
  and weak demand for labor. We\nshow that\, even with foreclosures costs\,
  in a liquidity trap mortgage\nregulations that allow for default are welf
 are dominant to regulations\nthat discourage it. In terms of methodology\,
  we show that models of\nliquidity traps with long-term debt\, endogenous 
 housing prices and\ndefault significantly amplify the impact and persisten
 ce of financial\nshocks.\n 
DTSTART:20171027T180000Z
DTEND:20171027T193000Z
LOCATION:Gerri C. LeBow Hall\, 3220 Market Street\, 406\, Philadelphia\, PA
  19104
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