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Who Benefits From The Export-Import Bank Aid?

Benmelech, Efraim; Monteiro, Joao - National Bureau of Economic Research - 2023

We study the effectiveness of government aid to exporters by exploring an exogenous shock that affected the ability of the Export-Import Bank of the United States (EXIM) to provide aid to U.S. exporters through loan guarantees to importers. We focus on Boeing, the largest individual recipient of...

Persistent link: https://www.econbiz.de/10014337795

Collateral Damage : The Impact of Foreclosures on New Home Mortgage Lending in the 1930s

Fishback, Price - 2018

Foreclosures led to severe disruptions in home mortgage lending during the recent Great Recession and the Great Depression of the 1930s. It is difficult to measure these impacts in the modern market where origination, funding and servicing are separated within complex lending structures, but...

Persistent link: https://www.econbiz.de/10012480897

Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform

Jensen, Thais Lærkholm - 2014

typically confound analyses of the collateral channel. We find that a $30,000 increase in credit availability led to a 12 basis …

Persistent link: https://www.econbiz.de/10012458082

Optimal Time-Consistent Macroprudential Policy

Bianchi, Javier - 2013

Collateral constraints widely used in models of financial crises feature a pecuniary externality: Agents do not … internalize how borrowing decisions taken in "good times" affect collateral prices during a crisis. We show that agents in a …

Persistent link: https://www.econbiz.de/10012458958

Collateral Valuation and Borrower Financial Constraints : Evidence from the Residential Real Estate Market

Agarwal, Sumit - 2013

Financially constrained borrowers have the incentive to influence the appraisal process in order to increase borrowing or reduce the interest rate. We document that the average valuation bias for residential refinance transactions is above 5%. The bias is larger for highly leveraged...

Persistent link: https://www.econbiz.de/10012459056

Land-price dynamics and macroeconomic fluctuations

Liu, Zheng - 2011

incorporating two key features into a DSGE model: We introduce land as a collateral asset in firms' credit constraints and we …

Persistent link: https://www.econbiz.de/10012461613

Bankruptcy Exemption of Repo Markets : Too Much Today for Too Little Tomorrow?

Acharya, Viral V.; Anshuman, V. Ravi; Viswanathan, S. - National Bureau of Economic Research - 2024

the cost of ex-post inefficiency when there are adverse aggregate shocks to the fundamental quality of collateral … shocks by engaging in collateral liquidations. Financial arbitrage by less leveraged financial intermediaries equilibrates … returns from acquiring collateral at fire-sale prices and returns from real-sector lending, inducing higher lending rates, a …

Persistent link: https://www.econbiz.de/10014468227

A Theory of Economic Coercion and Fragmentation

Clayton, Christopher; Maggiori, Matteo; Schreger, Jesse - National Bureau of Economic Research - 2024

Hegemonic powers, like the United States and China, exert influence on other countries by threatening the suspension or alteration of financial and trade relationships. Mechanisms that generate gains from integration, such as external economies of scale and specialization, also increase the...

Persistent link: https://www.econbiz.de/10015171710

Putting Economics Back Into Geoeconomics

Clayton, Christopher; Maggiori, Matteo; Schreger, Jesse - National Bureau of Economic Research - 2025

Geoeconomics is the use of a country's economic strength to exert influence on foreign entities to achieve geopolitical or economic goals. We discuss how concepts of power in the political science and economics literature can be used to guide research on geoeconomics. Economic threats as a form...

Persistent link: https://www.econbiz.de/10015398133

The Allocation of Publicly-Funded Biomedical Research

Lichtenberg, Frank R. - 1998

We develop a simple theoretical model of the allocation of public biomedical research expenditure, and present some empirical evidence about the determinants of this allocation. The structure of expenditure should depend on the relative costs as well as the relative benefits of different kinds...

Persistent link: https://www.econbiz.de/10012472210