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Using Bankruptcy to Reduce Foreclosures: Does Strip-down of Mortgages Affect the Supply of Mortgage Credit?

Li, Wenli; Tewari, Ishani; White, Michelle - CESifo - 2014

We assess the credit market impact of allowing mortgage “strip-down” as a foreclosure-prevention measure, where strip …-down reduces the principal of underwater residential mortgages to the current market value of the property for homeowners in … effective foreclosure-prevention program, because it would have only small and transient effects on the supply of mortgage loans. …

Persistent link: https://www.econbiz.de/10010877889

When Backward Integration by a Dominant Firm Improves Welfare

Linnemer, Laurent - CESifo - 2002

This paper studies the welfare consequences of a vertical merger that raises rivals‘ costs when downstream competition is à la Cournot between firms with constant asymmetric marginal costs. The main result is that such a vertical merger can nevertheless improve welfare if it involves a...

Persistent link: https://www.econbiz.de/10005051572

The Impact of Foreclosure on Housing Prices

Siebert, Ralph - CESifo - 2015

The aim of the study is to explain if the foreclosure effect on prices is explained by a lower quality of foreclosed … estimate the impact of foreclosure on home prices in Florida and Indiana from 2000 to 2008. We employ a model of housing demand …-specific quality explains the vast majority of the foreclosure effects on house prices. Our results also show that foreclosed homes in …

Persistent link: https://www.econbiz.de/10011163066

On the Political Economy of Complexity

Nitzan, Shmuel; Procaccia, Uriel; Tzur, Joseph - CESifo - 2013

Article underscores the dark side of both phenomena by focusing on the anti-competitive features of regulation and reform and …

Persistent link: https://www.econbiz.de/10010877637

Prices vs. Quantities with Endogenous Cost Structure

Storrøsten, Halvor Briseid - CESifo - 2014

Authorities often lack information for efficient regulation of the commons. This paper derives a criterion comparing …

Persistent link: https://www.econbiz.de/10010877871

Emissions Taxes and Abatement Regulation under Uncertainty

Christiansen, Vidar; Smith, Stephen - CESifo - 2013

We consider environmental regulation in a context where firms invest in abatement technology under conditions of …

Persistent link: https://www.econbiz.de/10010877925

Investment in Broadband Infrastructure Under Local Deregulation: Evidence from the U.K. Broadband Market

Fabritz, Nadine; Falck, Oliver - CESifo - 2013

This paper investigates telecommunication operator investment in broadband infrastructure after local deregulation of the wholesale broadband access market. Using a panel dataset covering all 5,598 exchange areas in the United Kingdom, we exploit regional differences in deregulation following a...

Persistent link: https://www.econbiz.de/10010877989

Green Havens and Pollution Havens

Poelhekke, Steven; Ploeg, Frederick Van der - CESifo - 2012

country significantly attracts FDI. What is important for these pollution haven effects is not only regulation but also …

Persistent link: https://www.econbiz.de/10011264743

Hurricane Insurance in Florida

Jametti, Mario; Ungern-Sternberg, Thomas von - CESifo - 2009

This paper studies the evolution of hurricane insurance in Florida over the last decades. Hurricanes (and other natural catastrophes) are typically referred to as “uninsurable” risks. The more exposed property owners find it difficult to obtain insurance cover from the private market and/or...

Persistent link: https://www.econbiz.de/10005013949

Powering Up Developing Countries through Integration?

Auriol, Emmanuelle; Biancini, Sara - CESifo - 2012

Power market integration is analyzed in a two countries model with nationally regulated firms and costly public funds. If generation costs between the two countries are too similar negative business-stealing outweighs efficiency gains so that following integration welfare decreases in both...

Persistent link: https://www.econbiz.de/10010556079