Replication data for: Do Restrictions on Home Equity Extraction Contribute to Lower Mortgage Defaults? Evidence from a Policy Discontinuity at the Texas Border

Principal Investigator(s): View help for Principal Investigator(s) Anil Kumar

Name	File Type	Size	Last Modified
data			10/13/2019 03:59:AM
programs			10/13/2019 03:59:AM
FigureB1.do	text/plain	12.2 KB	10/12/2019 11:59:PM
FigureB2.do	text/x-c	15.2 KB	10/12/2019 11:59:PM
Get_Tables_and_Figures_Part1.do	text/plain	2 KB	10/12/2019 11:59:PM
Get_Tables_and_Figures_Part2.do	text/plain	5.2 KB	10/12/2019 11:59:PM
Impact-of-Texas-Home-Equity-Regulations_AEJ_final_with_appendix.pdf	application/pdf	940.3 KB	10/12/2019 11:59:PM
Master.do	text/plain	2.3 KB	10/12/2019 11:59:PM
Table5_Figure9.do	text/plain	38 KB	10/12/2019 11:59:PM
TableA2.do	text/plain	3.3 KB	10/12/2019 11:59:PM

Project Description

Summary: Texas is the only US state that limits home equity borrowing to 80 percent of home value. This paper exploits this policy discontinuity around Texas' interstate borders and uses a multidimensional regression discontinuity design framework to find that limits on home equity borrowing in Texas lowered the likelihood of mortgage default by about 1.5 percentage points for all mortgages and 4–5 percentage points for non-prime mortgages. Estimated non-prime mortgage default hazards within 25 to 100 miles on either side of the Texas border are about 20 percent smaller when crossing into Texas.

Scope of Project

Subject Terms: [Regression Discontinuity Design, Mortgage Default Hazard, Lasso]

JEL Classification:
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      G28 Financial Institutions and Services: Government Policy and Regulation
      R31 Housing Supply and Markets

Geographic Coverage: United States, Texas

Data Type(s): aggregate data

Methodology

Unit(s) of Observation: County,

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Published Versions

V1 [2019-10-13]

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DDI 2.5

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