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The Review of Financial Studies

Volume 39 · Issue 2

Feb 1, 20267 articles

Agency MBS as Safe Assets

Zhiguo He · Zhaogang Song

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Feb 1, 2026pp. 387-426DOI: 10.1093/rfs/hhaf052 ↗

Bank Risk-Taking and the Real Economy: Evidence from the Housing Boom and Its Aftermath

Antonio Falato · Giovanni Favara · David Scharfstein

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Feb 1, 2026pp. 427-458DOI: 10.1093/rfs/hhaf091 ↗

Falling Behind: Has Rising Inequality Fueled the American Debt Boom?

Moritz Drechsel-Grau · Fabian Greimel

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Feb 1, 2026pp. 459-517DOI: 10.1093/rfs/hhaf062 ↗

Price and Volume Divergence in China’s Real Estate Markets: The Role of Local Governments

Jeffery (Jinfan) Chang · Yuheng Wang · Wei Xiong

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Feb 1, 2026pp. 343-386DOI: 10.1093/rfs/hhaf089 ↗

The Effect of Principal Reduction on Household Distress: Evidence from Mortgage Cramdown

Jacelly Cespedes · Carlos Parra · Clemens Sialm

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Feb 1, 2026pp. 518-561DOI: 10.1093/rfs/hhaf104 ↗

Understanding Rationality and Disagreement in House Price Expectations

Zigang Li · Stijn Van Nieuwerburgh · Wang Renxuan

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Feb 1, 2026pp. 297-342DOI: 10.1093/rfs/hhaf073 ↗

What Problem Do Intermediaries Solve? Evidence From Real Estate Markets

Darren Aiello · Mark Garmaise · Taylor Nadauld

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Feb 1, 2026pp. 562-604DOI: 10.1093/rfs/hhaf061 ↗