Kristopher Gerardi

TL;DR: In this article, the authors examine more than 100,000 homeowners in Massachusetts who had negative equity during the early 1990s and find that fewer than 10 percent of these owners eventually lost their home to foreclosure.

TL;DR: In this paper, the authors analyzed the effects of competition on price dispersion in the airline industry, using panel data from 1993:Q1 through 2006:Q3, and found that competition has a negative effect on price discrimination in line with the textbook treatment of price discrimination.

TL;DR: This article developed a simple theoretical model to interpret these empirical findings and to assess potential foreclosure-reduction policies, which implies that lenders and policymakers face an information problem in trying to help borrowers with negative equity, because it is hard to determine which owners really need help in order to stay in their homes.

TL;DR: In this paper, the authors investigate whether market participants underestimated the likelihood of a fall in home prices or the sensitivity of foreclosures to falling prices, and they show that given available data, they should have understood that a significant price drop would raise foreclosure sharply, although loan-level models would have predicted a smaller rise than occurred.

TL;DR: This paper found a large and statistically significant negative correlation between numerical ability and various measures of delinquency and default in the U.S. subprime mortgage market and found that those with the highest measured level of numerical ability had lower foreclosure starts compared with those with low numerical ability.