Replication data for: Wall Street and the Housing Bubble

Principal Investigator(s): View help for Principal Investigator(s) Ing-Haw Cheng; Sahil Raina; Wei Xiong

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aer20130297_data			12/06/2019 04:22:PM
LICENSE.txt	text/plain	14.6 KB	12/06/2019 11:22:AM

Project Citation:

Cheng, Ing-Haw, Raina, Sahil, and Xiong, Wei. Replication data for: Wall Street and the Housing Bubble. Nashville, TN: American Economic Association [publisher], 2014. Ann Arbor, MI: Inter-university Consortium for Political and Social Research [distributor], 2019-12-06. https://doi.org/10.3886/E116129V1

Project Description

Summary: We analyze whether mid-level managers in securitized finance were aware of a large-scale housing bubble and a looming crisis in 2004-2006 using their personal home transaction data. We find that the average person in our sample neither timed the market nor were cautious in their home transactions, and did not exhibit awareness of problems in overall housing markets. Certain groups of securitization agents were particularly aggressive in increasing their exposure to housing during this period, suggesting the need to expand the incentives-based view of the crisis to incorporate a role for beliefs.

Scope of Project

JEL Classification:
      D14 Household Saving; Personal Finance
      D83 Search; Learning; Information and Knowledge; Communication; Belief; Unawareness
      E32 Business Fluctuations; Cycles
      E44 Financial Markets and the Macroeconomy
      G01 Financial Crises
      G21 Banks; Depository Institutions; Micro Finance Institutions; Mortgages
      R31 Housing Supply and Markets

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Published Versions

V1 [2019-12-06]

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