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At the award ceremony for Lecturer of the year, with the Golden Pointer
I work as a Marie Skłodowska-Curie fellow at the Leibniz Institute for Financial Research SAFE. I previously worked as a visiting professor (W3) at the University of Mannheim, and as an Assistant Professor at Aarhus University.
[I am on the market for a new position]
My main research field is interest-only mortgages, mortgage market design, housing markets and consumption-savings decisions.
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Phone: +49 155 104 207 81
E-mail: claes.backman@gmail.com
Public goods
Publications
Mortgage Design, Repayment Schedules, and Household Borrowing (Presentation) (FEDS WP)
Accepted at the Review of Financial Studies.
With Peter van Santen and Patrick Moran
Mortgage Innovations and House Price Booms [ungated]
Journal of Urban Economics (2025). With Chandler Lutz
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
Working papers
Beyond Connectivity: Stock Market Participation in a Network
3rd R&R at the Journal of Economic Dynamics and Control
with Olga Balakina and Anastasiia Parakhoniak
Personal Financial Advice and Portfolio Quality (submitted)
with Olga Balakina, Tobin Hanspal, Andreas Hackethal and Dominique Lammer
Housing returns across the income distribution - draft coming soon
Selected presentations: EEA 2025, UEA2025, 2025 CEAR-RSI Household Finance Workshop
with Natalia Khorunzhina and Walter D'Lima
Mortgage market design and wealth inequality: Evidence from interest-only mortgages in Denmark - draft coming soon
Selected presentations: Echoppe Conference on the Economics of Housing and Housing Policies, St Gallen workshop on Macroeconomic Implications of Housing, Household Finances, and Wealth Dynamics, UEA 2023.
with Danial Ali Akbari, Natalia Khorunzhina and Timo Trimborn
Work in progress
The effect of algorithmic trading on pricing fat finger errors
House Prices, Expected Tenure, and Consumption Growth
Financial Constraints and Homeownership (project funded by a Marie Skłodowska-Curie Fellowship)
Macroprudential policies and homeownership
Monthly Payment Targeting and Borrowing: Experimental Evidence
Experimental Evidence on Peer Effects in Finance: Mindful or Mindless Imitation?
Mortgage Borrowing, Renovations and Housing Returns
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