John Y. Campbell was appointed Honorary Doctor at CBS and the Economics Department

"Mortgages in Household Finance: Lessons Learned from Denmark"

03/30/2015

 

On Friday 20 March, the Department of Economics and Dean of Research Peter Møllgaard welcomed John Y. Campbell, Professor of Economics at Harvard University. Campbell held his inaugural lecture prior to his appointment as Honorary Doctor within CBS and the Department of Economics at the CBS Annual Celebration 2015.

Campbell’s inaugural lecture focused on “Mortgages in Household Finance: Lessons Learned from Denmark”. Nearly 100 students, researchers and representatives from different enterprises showed up.

Campbell made it clear that a well-functioning mortgage system is crucial for home ownership, consumer protection and macroeconomic stability. The Danish system is widely admired internationally but still faces certain different risks such as the borrowers’ own responsibility for refinancing loans. Scientific evidence shows that many borrowers do not refinance when they should from a rational point of view. Research shows that this is particularly a challenge for people with limited or no education.

The page was last edited by: Department of Economics // 12/17/2017