Claes Bäckman
At the award ceremony for Lecturer of the year, with the Golden Pointer
I am an Advanced Researcher at the Leibniz Institute for Financial Research SAFE. I was previously working at Aarhus University and Lund University. My main research field is interest-only mortgages, mortgage market design, housing markets and consumption-savings decisions.
In August 2025, I will join Mannheim University as a one-year visiting professor (W3). I will then return to SAFE as a Marie Curie Postdoctoral Fellow for two years.
Phone: +49 155 104 207 81
E-mail: claes.backman@gmail.com
Office: House of Finance, 1st floor, room 1.10.
Public goods
Publications
Interest-Only Mortgages and Consumption Growth: Evidence from a Mortgage Market Reform [Ungated]
International Economic Review (2023). With Natalia Khorunzhina
Participation and Losses in Multi-Level Marketing: Evidence from an FTC Settlement [SSRN link]
Financial Planning Review (2022), volume 5, Issue 1, March 2022
with Tobin Hanspal
The Impact of Interest-Only Loans on Affordability [SSRN Link]
Regional Science and Urban Economics (2020), volume 80, January 2020
with Chandler Lutz
Work in progress
Mortgage Design, Repayment Schedules, and Household Borrowing (Presentation)
Resubmitted (reject & resubmit) to the Review of Financial Studies. With Peter van Santen and Patrick Moran
Mortgage Innovations and House Price Booms
Resubmitted to the Journal of Urban Economics. With Chandler Lutz
Personal Recommendations and Portfolio Quality
with Olga Balakina, Tobin Hanspal, Andreas Hackethal and Dominique Lammer
Beyond Connectivity: Stock Market Participation in a Network (under review)
with Olga Balakina and Anastasiia Parakhoniak
Mortgage market design and wealth inequality: Evidence from interest-only mortgages in Denmark
with Danial Ali Akbari, Natalia Khorunzhina and Timo Trimborn
Housing returns across the wealth distribution
with Natalia Khorunzhina and Walter D'Lima
The effect of algorithmic trading on pricing fat finger errors
with Olga Balakina, Arze Karam and Anastasiia Parakhoniak