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Crisis Risk and Risk Management
Stulz, René M. - National Bureau of Economic Research - 2023
This paper assesses the current state of knowledge about crisis risk and its implications for risk management. Better data that became available since the Global Financial Crisis (GFC) has improved our understanding of crisis risk. These data have been used to show that some types of crises...
Persistent link: https://www.econbiz.de/10014287353
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FinTech Lending with LowTech Pricing
Johnson, Mark J.; Ben-David, Itzhak; Lee, Jason; Yao, … - National Bureau of Economic Research - 2023
FinTech lending--known for using big data and advanced technologies--promised to break away from the traditional credit scoring and pricing models. Using a comprehensive dataset of FinTech personal loans, our study shows that loan rates continue to rely heavily on conventional credit scores,...
Persistent link: https://www.econbiz.de/10014250171
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Tech-Driven Intermediation in the Originate-to-Distribute Model
He, Zhiguo; Jiang, Sheila; Xu, Douglas - National Bureau of Economic Research - 2024
This paper develops a general equilibrium model to examine the role of information technology when intermediaries facilitate the origination and distribution of assets given information asymmetry. Information technology measures the informativeness of asset-quality signals received by...
Persistent link: https://www.econbiz.de/10014468252
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Customer Data Access and Fintech Entry : Early Evidence from Open Banking
Babina, Tania; Bahaj, Saleem; Buchak, Greg; De Marco, … - National Bureau of Economic Research - 2024
Open banking (OB) empowers bank customers to share transaction data with fintechs and other banks. 49 countries have …
Persistent link: https://www.econbiz.de/10014468288
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To Pay or Autopay? Fintech Innovation and Credit Card Payments
Wang, Jialan - National Bureau of Economic Research - 2024
Digital technologies and fintech firms have rapidly reshaped the consumer financial landscape in recent years, and have the potential to help consumers make better decisions and improve their financial health. Existing technologies such as autopay are also experiencing increased takeup, a trend...
Persistent link: https://www.econbiz.de/10014528372
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Book Value Risk Management of Banks : Limited Hedging, HTM Accounting, and Rising Interest Rates
Granja, João; Jiang, Erica Xuewei; Matvos, Gregor; … - National Bureau of Economic Research - 2024
, focusing on short-term gains but risking further losses if rates rose. Instead of hedging the market value risk of bank asset … fluctuations. More vulnerable banks were more likely to reclassify. Extending Jiang et al.'s (2023) solvency bank run model, we …
Persistent link: https://www.econbiz.de/10014512148
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Banking on Uninsured Deposits
Drechsler, Itamar; Savov, Alexi; Schnabl, Philipp; … - National Bureau of Economic Research - 2023
Motivated by the regional bank crisis of 2023, we model the impact of interest rates on the liquidity risk of banks … valuable if depositors remain in the bank. This creates run incentives for uninsured depositors. We show that a run equilibrium … the bank. The liquidity risk of the bank thus increases with interest rates. We provide a formula for the bank's optimal …
Persistent link: https://www.econbiz.de/10014250156
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The Role of Intermediaries in Selection Markets : Evidence form Mortgage Lending
Allen, Jason; Clark, Robert; Houde, Jean-François; Li, … - National Bureau of Economic Research - 2023
We study the role of brokers in selection markets. We find broker-clients in the Canadian mortgage market are observationally different from branch-clients. They finance larger loans with more leverage and longer amortization. We build and estimate a model of mortgage demand to disentangle three...
Persistent link: https://www.econbiz.de/10014447310
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Banking Crises in Historical Perspective
Frydman, Carola; Xu, Chenzi - National Bureau of Economic Research - 2023
This paper surveys the recent empirical literature on historical banking crises, defined as events taking place before 1980. Advances in data collection and identification have provided new insights into the causes and consequences of crises both immediately and over the long run. We highlight...
Persistent link: https://www.econbiz.de/10014248010
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Trade Shocks and Credit Reallocation
Federico, Stefano; Hassan, Fadi; Rappoport, Veronica - National Bureau of Economic Research - 2023
into the World Trade Organization. As a result, they reduce the supply of credit to firms, irrespective of the firm …
Persistent link: https://www.econbiz.de/10014250129