CUREC Research

Stephen W. Salant, Timothy James McQuade and Jason Winfree Review of Development Economics, 16(4): 512-526, 2012. Tilman Börgers and Timothy James McQuade The B.E. Journal of Theoretical Economics, 7(1): 2007. In developing countries, consumers can buy many goods either in formal markets or in informal markets and decide where to...

Stephen W. Salant, Timothy James McQuade and Jason Winfree Journal of International Economics 100: 112-119, 2016. Abstract When importing durables and nondurables, consumers often cannot discern quality prior to purchase. If they cannot also identify the individual producer, exporters have diminished incentives to produce high quality goods. To raise the...

American Economic Review P&P, 109: 377–380, 2019. Rebecca Diamond Tim McQuade Franklin Qian AEA PAPERS AND PROCEEDINGS VOL. 109, MAY 2019 (pp. 377-80) Using a 1994 law change, we exploit quasi-experimental variation in the assignment of rent control in San Francisco to study which types of landlords bear the burden...

Authors: Liang Peng and Thomas G. Thibodeau This paper uses about 26 million home sales to measure house price idiosyncratic risk for 7,580 U.S. zip codes during three periods: (1) when the U.S. housing market was stable (1996 to 2000), (2) booming (2001 to 2007), and (3) busting (2007 to...

How can mortgages be redesigned to reduce housing market volatility, consumption volatility, and default? How does mortgage design interact with monetary policy? We answer these questions using a quantitative equilibrium life cycle model with aggregate shocks, long-term mortgages, and an equilibrium housing market, focusing on designs that index payments to monetary policy.

Journal of Political Economy, 127:3: 1063-1117, 2019. Rebecca Diamond & Timothy McQuade We nonparametrically estimate spillovers of properties financed by the Low Income Housing Tax Credit (LIHTC) onto neighborhood residents by developing a new difference-in-differences style estimator. LIHTC development revitalizes low-income neighborhoods, increasing house prices 6.5%, lowering crime rates, and...

American Economic Review, 109:9: 3365-3394, 2019. By Rebecca Diamond, Tim McQuade, and Franklin Qian* Using a 1994 law change, we exploit quasi-experimental variation in the assignment of rent control in San Francisco to study its impacts on tenants and landlords. Leveraging new data tracking individuals’ migration, we find rent control...

Adam M Guren, Timothy J McQuade The Review of Economic Studies, Volume 87, Issue 3, May 2020, Pages 1331–1364, https://doi.org/10.1093/restud/rdaa001 Published: 11 January 2020 This paper uses a structural model to show that foreclosures played a crucial role in exacerbating the recent housing bust and to analyze foreclosure mitigation policy...

SHAI BERNSTEIN, TIMOTHY MCQUADE , and RICHARD R. TOWNSEND Journal of Finance We investigate how the deterioration of household balance sheets affects worker productivity, and whether such effects mitigate or amplify economic downturns. To do so, we compare the output of innovative workers who experienced differential declines in housing wealth...

Emily A.Gallagher, Radhakrishnan Gopalan and Michal Grinstein-Weiss Journal of Public Economics Volume 172, April 2019, Pages 67-83 Abstract We use administrative tax data and survey responses to quantify the effect of subsidized health insurance on rent and mortgage delinquency. We employ a regression discontinuity (RD) design, exploiting the income threshold...