Trickle-down housing economics
Charles G. Nathanson
High-quality construction diminishes low-quality house prices in the same metro area, but by less than you might think.
Real effects of rollover risk: evidence from hotels in crisis
Anthony A. DeFusco, Charles G. Nathanson, and Michael Reher
Hotel owners facing mortgage maturities during the COVID-19 crisis booked fewer guests and cut their wage bills more than owners of hotels with mortgages that matured just before the COVID-19 crisis.