Christopher L. Foote

Learn More
Financial markets appear to improve the allocation of capital. Across 65 countries, those with developed "nancial sectors increase investment more in their growing industries, and decrease investment more in their declining industries, than those with undeveloped "nancial sectors. The e$ciency of capital allocation is negatively correlated with the extent(More)
Negative Equity and Foreclosure: Theory and Evidence Christopher L. Foote, Kristopher Gerardi, and Paul S. Willen Abstract: Millions of Americans have negative housing equity, meaning that the outstanding balance on their mortgage exceeds their home’s current market value. Our data show that the overwhelming majority of these households will not lose(More)
Yeast trans-Golgi network (TGN) membrane proteins maintain steady-state localization by constantly cycling to and from endosomes. In this study, we examined the trafficking itinerary and molecular requirements for delivery of a model TGN protein A(F-->A)-alkaline phosphatase (ALP) to the prevacuolar/endosomal compartment (PVC). A(F-->A)-ALP was found to(More)
This paper takes a skeptical look at a leading argument about what is causing the foreclosure crisis and what should be done to stop it. We use an economic model to focus on two key decisions: the borrower’s choice to default on a mortgage and the lender’s subsequent choice whether to renegotiate or modify the loan. The theoretical model and econometric(More)
Using two large proprietary datasets from New England, this paper establishes some basic facts about the subprime crisis. First, while unaffordable interest-rate resets are often blamed for setting off this crisis, most subprime borrowers who defaulted did so well in advance of their reset dates. Defaults on subprime adjustable-rate mortgages are more(More)
The 1918–47 employee records of the Ford Motor Company provide a rare opportunity to study a firm willing to hire black workers when similar firms would not. The evidence suggests that Ford did profit from discrimination elsewhere, but not by paying blacks less than whites. An apparent “wage-equity constraint” prevailed, resulting in virtually no racial(More)
Ring canals, also known as stable intercellular bridges, are derived from the contractile rings of incomplete cytokinesis (IC) in most organisms. Formation of ring canals is necessary to generate functional eggs and sperm in multiple organisms including insects, birds, mammals and various plants. How the constriction of a contractile ring is arrested and(More)
Reversible and easy to use, temperature-sensitive (TS) mutations are powerful tools for studying gene function. However, TS alleles are rare and difficult to generate and identify, and this has limited their use in most multicellular organisms. We have generated and characterized 41 intein switches, temperature-sensitive Sce VMA mutations that splice only(More)
This study addressed whether phosphorylation regulates trafficking of yeast membrane proteins that cycle between the trans-Golgi network (TGN) and endosomal system. The TGN membrane proteins A-ALP, a model protein containing the Ste13p cytosolic domain fused to alkaline phosphatase (ALP), and Kex2p were found to be phosphorylated in vivo. Mutation of the(More)
ELIZABETH MOYLAN1*, SIMON HAROLD1, PHILIPPA HARRIS1, CHRISTOPHER FOOTE1, CHRIS ARME2, ALESSANDRO MINELLI3, MARIA KOWALCZUK1 & CAROLINE BLACK1 1 BioMed Central, 6th Floor, 236 Gray’s Inn Road, London, WC1X 8HB, UK. <elizabeth.moylan@biomedcentral.com>, <simon.harold@biomedcentral.com>, <philippa.harris@biomedcentral.com>,(More)