ARTICLE IN PRESS
Housing and Credit Markets:
Booms and Busts
V.
*
Guerrieri*,, H. Uhlig*,,{
University of Chicago, Chicago, IL, United States
NBER, Cambridge, MA, United States
{
CEPR, Washington, DC, United States
Contents
1. Introduction 1428
2. A Stark Model 1432
2.1 Numerical Experiments: Overview 1438
2.2 An Exogenous Crash in Leverage ...


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