Working Papers
Working Papers
Abstract
This paper investigates the impact of foreclosure process arduity on home loan originations. Using county-level foreclosure duration data, I find that a one-year longer foreclosure process is associated with a 2.2% increase in average loan rejections, with the strongest contractionary effects on credit availability where foreclosure is a judicial process. Further, I find that a one-year longer foreclosure process duration is associated with a 0.28% reduction in the size of approved loans as measured by loan-to-value ratio. Lastly, I find that foreclosure duration has an ambiguous effect on the interest rates of approved loans.
(Adopted from my undergraduate thesis, Time is money: The impact of foreclosure duration on home loan originations).
Joint with Agustin Aliaga and Owen Ozier.
Abstract
An influential study by Biasi (2021) found that when Wisconsin school districts moved to flexible pay contracts, teacher quality and effort improved, teacher pay rose for high-quality teachers, and student test scores increased. We focus on the last finding, using public aggregations of Wisconsin's test score data instead of the restricted-access data used in the original study. Our analysis using public data corroborates the broad patterns of test score gains found in the original study. We also show novel heterogeneous effects using the public dataset: test score improvements are concentrated at the bottom of the distribution.
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