Replication data for: The Political Economy of the US Mortgage Default Crisis

Principal Investigator(s): View help for Principal Investigator(s) Atif Mian; Amir Sufi; Francesco Trebbi

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Project Citation:

Mian, Atif, Sufi, Amir, and Trebbi, Francesco. Replication data for: The Political Economy of the US Mortgage Default Crisis. Nashville, TN: American Economic Association [publisher], 2010. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-10-11. https://doi.org/10.3886/E112379V1

Project Description

Summary: We examine the effects of constituents, special interests, and ideology on congressional voting on two of the most significant pieces of legislation in US economic history. Representatives whose constituents experience a sharp increase in mortgage defaults are more likely to support the Foreclosure Prevention Act, especially in competitive districts. Interestingly, representatives are more sensitive to defaults of their own-party constituents. Special interests in the form ofhigher campaign contributions from the financial industry increase the likelihood of supporting the Emergency Economic Stabilization Act. However, ideologically conservative representatives are less responsive to both constituent and special interests. (JEL D72, G21, G28)

Scope of Project

JEL Classification:
      D72 Political Processes: Rent-seeking, Lobbying, Elections, Legislatures, and Voting Behavior
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      G28 Financial Institutions and Services: Government Policy and Regulation

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V1 [2019-10-11]

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