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Research Briefs·May 1, 2024

Access to Credit Reduces the Value of Insurance

Sonia Jaffe, Anup Malani, and Julian Reif
Insurance is less valuable when people can also smooth their spending using loans. Access to a five-year loan decreases the average value of insurance by $232–$366, or 58–61%.
Topics: Financial Markets
Research Briefs·Feb 27, 2024

A Commitment Rule for Insolvency Forum

Anthony J. Casey, Aurelio Gurrea-Martínez, and Robert K. Rasmussen
A new commitment rule regarding forums for international insolvency would not only benefit debtors and creditors, but also society at large by supporting the development of financial markets, entrepreneurial innovation, and economic growth.
Topics: Financial Markets
Research Briefs·Jan 18, 2024

Refinancing Frictions, Mortgage Pricing and Redistribution

Joseph S. Vavra, David W. Berger, Konstantin Milbradt, and Fabrice Tourre
Homebuyers who refinance their mortgages more often end up paying less in the long run than those who rarely refinance. Mortgage reforms can potentially reduce these disparities, but they can also have unintended consequences for the mortgage market.
Topics: Financial Markets