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Leonardo Martinez

IMF Institute for Capacity Development

Publications & Resources

  • Europe May Provide Lessons on Preventing Mortgage Defaults

    July 2013 | Regional Economist

    During the last global recession, house prices fell in some European countries almost as much as in some U.S. states. However, mortgage defaults occurred at a much lower rate in Europe. The authors say the difference might be explained by two regulations that apply in Europe but are used on a limited or much less restrictive basis in the U.S.