Guiso is with European University Institute, EIEF, and CEPR; Sapienza is with Northwestern University, NBER, and CEPR; Zingales is with University of Chicago, NBER, and CEPR. An earlier version of this paper circulated with the title “Moral and Social Constraints to Strategic Default on Mortgages.” We would like to thank the University of Chicago Booth School of Business and Kellogg School of Management for financial support in establishing and maintaining the Chicago Booth Kellogg School Financial Trust Index. Luigi Guiso is grateful to PEGGED for financial support. We thank Campbell Harvey (Editor), Amir Sufi, two anonymous referees, and seminar participants at the University of Chicago and New York University for very useful suggestions, Gabriella Santangelo and Filippo Mezzanotti for excellent research assistantship, and Peggy Eppink for editorial help. We also thank Amit Seru for providing us with a time series of actual strategic default within his sample.
The Determinants of Attitudes toward Strategic Default on Mortgages
Article first published online: 16 JUL 2013
© 2013 the American Finance Association
The Journal of Finance
Volume 68, Issue 4, pages 1473–1515, August 2013
How to Cite
GUISO, L., SAPIENZA, P. and ZINGALES, L. (2013), The Determinants of Attitudes toward Strategic Default on Mortgages. The Journal of Finance, 68: 1473–1515. doi: 10.1111/jofi.12044
- Issue published online: 16 JUL 2013
- Article first published online: 16 JUL 2013
- Accepted manuscript online: 19 MAR 2013 03:45AM EST
- Manuscript Accepted: 12 MAR 2013
- Manuscript Received: 14 JUL 2010
Disclaimer: Supplementary materials have been peer-reviewed but not copyedited.
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