Claes Bäckman

@claesbackman.bsky.social

Economist working on interest-only mortgages, housing, homeownership, social networks, and stock market participation. The goal is to combine all topics into one paper, but so far they are separate. https://claesbackman.com/

📢 Call for Papers: Housing Market Frictions and Access to Homeownership 1st Annual Workshop in Real Estate Finance 24–25 August 2026 · Frankfurt am Main Keynote speakers: • Timothy McQuade (UC Berkeley, NBER) • Andreas Fuster (Swiss Finance Institute at EPFL, CEPR)

It used to be difficult to get feedback on your research. The classic way was to ask someone to read it, hoping they would give you a few notes. That is changing. In the post below, I outline some ways I use Cursor and Claude Code to get feedback on my own work directly

Longer maturities for mortgages are back in the news. I wrote a Substack post about the benefits of longer maturities, potential concerns of households making mistakes, and what longer maturity mortgages might do for young households and first-time buyers (not much?)

🎉 Excited to share that our paper "Personal Financial Advice and Portfolio Quality" has been conditionally accepted at the Review of Finance! Many thanks to my co-authors, Olga Balakina, Tobin Hanspal, Andreas Hackethal and Dr. Dominique Lammer!

Beyond excited to say that our paper on amortization payments and borrowing has just been accepted at the Review of Financial Studies! Very grateful to my co-authors, Peter van Santen and Patrick Moran, and to the editor and referees who helped to significantly improve the paper.

Very happy to see our paper on interest-only mortgages and house prices in the Journal of Urban Economics! From 2003 to 2006, Danish house prices increased by 60 percent, in a robust regulatory design that limits housing speculation. This was a larger increase than in the US, Spain, or Ireland!

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Bluesky academics, lets get to know each other! Quote this & tell me: 1) a project you are working on & 2) an odd idea/theory you aren’t working on but keep thinking about 1) why does the return to housing differ by wealth? 2) why is the stock market participation rate not increasing over time?

Alessandro Martinello 🇪🇺@alemartinello.com · 2y ago

I am not in academia, but I keep wondering (ahem @henrikyde.bsky.social, though it’s a Q beat answered with macrofinance tools) whether and how much different redemption rates due to internal conversion activities set into prices of comparable bonds across different Danish mortgage institutes 😉

Nice way to use AI when making slides: drag a picture of a formula from a paper and ask Claude to give you the latex code: On a mac: use cmd+shift+4 to take a picture. In Windows, use Windows logo key + Shift + S.

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Come for the cool paper with insane data, and stay for the workshop that will teach you how to use SQL to handle billions of observations. I miss you in academia, @alemartinello.bsky.social

Alessandro Martinello 🇪🇺@alemartinello.com · 2y ago

About 6 months ago we published a paper in PNAS that for many reasons went a bit under the hood. But given the growth of #EconSky, here's a short thread about it. It's cool! It has: - *Insane* microdata - Simple approach - Relevant policy result It was likely also my last academic work. Here we go

Screenshot of "Substantial transmission of SARS-CoV-2 through casual contact in retail stores: Evidence from matched administrative microdata on card payments and testing", PNAS, April 2024

Here is a very helpful summary by Alex Edman on why papers get rejected at top journals, with examples from editor letters. I especially liked the point that mechanisms are useful if the channels affect the interpretation of the results but not if all mechanisms point in the same direction.

Learnings From 1,000 Rejections

The Review of Finance aimed to significantly increase its standards over my 6 years as Managing Editor and 1 year as Editor. To comply with these new standards,

papers.ssrn.com

Ok guys here's the point. Diff in Diff is a model based assumption that identifies the ATT (unless you're using random timing of rollouts, but almost noone is). It is model-based because you make assumptions to identify the OUTCOME MODEL in the *absence* of the treatment. 1/

apoorva lal@handle.invalid · 2y ago

DDDiD: Don't do difference in differences (w obs data). DiD is a (bad) weighting estimator and is almost always strictly dominated by better ones Maybe now that Guido is saying it, people will listen files.constantcontact.com/668faa28001/...