Women in Economics: Antoinette Schoar - 3. What caused the U.S. housing crisis?

Understanding the origins of the American housing crisis of 2007 has been a challenge for economists and policy makers. Antoinette Schoar and her co-researchers revealed that the tale of a “subprime mortgage crisis” is not based on what actually happened. As Schoar explains, it was the middle- and upper-middle class that defaulted in unprecedented large numbers which predominantly caused the crash. Better understanding of the false narrative could have led to the introduction of better policies.

Видео Women in Economics: Antoinette Schoar - 3. What caused the U.S. housing crisis? канала CEPR & VideoVox Economics