Similar Search Results

Moral and Social Constraints to Strategic Default on Mortgages

Guiso, Luigi; Sapienza, Paola; Zingales, Luigi - C.E.P.R. Discussion Papers - 2009

We use survey data to study American households’ propensity to default when the value of their mortgage exceeds the … value of their house even if they can afford to pay their mortgage (strategic default). We find that 26% of the existing … the house. Yet, 17% of households would default, even if they can afford to pay their mortgage, when the equity shortfall …

Persistent link: https://www.econbiz.de/10005039578

Betting the House

Jordà, Òscar; Schularick, Moritz; Taylor, Alan M. - C.E.P.R. Discussion Papers - 2014

Is there a link between loose monetary conditions, credit growth, house price booms, and financial instability? This … paper analyzes the role of interest rates and credit in driving house price booms and busts with data spanning 140 years of …

Persistent link: https://www.econbiz.de/10011145419

Spillover Effects, Bank Lending and Growth

Altug, Sumru G.; Usman, Murat - C.E.P.R. Discussion Papers - 2004

opportunities and asymmetric information in credit markets. We show that such features may lead to strategic considerations in the …

Persistent link: https://www.econbiz.de/10005789112

Corporate Debt Restructuring: Evidence on Lending Coordination in Financial Distress

Brunner, Antje; Krahnen, Jan Pieter - C.E.P.R. Discussion Papers - 2001

that contains detailed credit-file information on distressed lending relationships in Germany, including information on …

Persistent link: https://www.econbiz.de/10005123994

Endogenous Communication Among Lenders and Entrepreneurial Incentives

Padilla, Atilano Jorge; Pagano, Marco - C.E.P.R. Discussion Papers - 1996

When banks have an informational monopoly about their borrowers, the latter incentives can be thwarted by the fear that the return on their effort will be partly appropriated by their banks via high future interest rates. Banks can correct this incentive problem through a commitment to share...

Persistent link: https://www.econbiz.de/10005124286

Multiple Lenders and Corporate Distress: Evidence on Debt Restructuring

Brunner, Antje; Krahnen, Jan Pieter - C.E.P.R. Discussion Papers - 2004

credit-fie information on distressed lending relationships in Germany. In particular, it includes information on bank pools …

Persistent link: https://www.econbiz.de/10005504452

Banks Exposure to Interest Rate Risk and The Transmission of Monetary Policy

Landier, Augustin; Sraer, David; Thesmar, David - C.E.P.R. Discussion Papers - 2014

We show that banks' cash flow exposure to interest rate risk, or income gap, plays a crucial role in their lending behavior following monetary policy shocks. In a first step, we show that the sensitivity of bank profits to interest rates increases significantly with their income gap, even when...

Persistent link: https://www.econbiz.de/10011145414

Bank Lending and Property Prices in Hong Kong

Gerlach, Stefan; Peng, Wensheng - C.E.P.R. Discussion Papers - 2004

and property prices is large, our results suggest that the direction of influence goes from property prices to bank credit …

Persistent link: https://www.econbiz.de/10005661824

On the Effects of Anti-dumping Legislation

Barros, Pedro Luis Pita; Martinez-Giralt, Xavier - C.E.P.R. Discussion Papers - 1997

We show that the nature and extent of trade is significantly affected by the pricing policy that firms are allowed to employ. A switch from discriminatory to non-discriminatory pricing (e.g. strict anti-dumping laws) leads to a switch from two-way trade to one-way trade. It is far from true that...

Persistent link: https://www.econbiz.de/10005504678

Uncertainty Aversion and Systemic Risk

Dicks, David L.; Fulghieri, Paolo - C.E.P.R. Discussion Papers - 2015

We propose a new theory of systemic risk based on Knightian uncertainty (or "ambiguity"). We show that, due to uncertainty aversion, beliefs on future asset returns are endogenous, and bad news on one asset class induces investors to be more pessimistic about other asset classes as well. This...

Persistent link: https://www.econbiz.de/10011213303

1
2
3
4
5
6
7
8
9
10
Next
Last