securitization market by looking at the correlation between the securitization (risk-transfer) and the default (accident) probability … a strong relationship is a credible enough commitment to monitor after securitization. Importantly, the selection of …

relying on the use of micro-level data on US mortgage loan applications, which allows me to identify liquidity risk as an … to liquidity risk contracted their supply of credit more sharply. I contribute to the identification of this effect by … important determinant of the contraction of credit in the mortgage market, but as separate from the precipitous fall in credit …

the quality of their portfolio, but also contracting their supply of mortgage credit. We reach this conclusion by …-country evidence. In turn, our analysis narrows down to one particular policy in the mortgage market, and dissects its effects by …

Securitization was meant to disperse credit risk to those who were better able to bear it. In practice, securitization … framework for the financial system for assessing the impact of securitization on financial stability. If securitization leads to … consequences for financial stability. Covered bonds are one form of securitization that do not fall foul of this principle. I …

We study the feedback from the risk of outstanding mortgage-backed securities (MBS) on the level and volatility of …

We document that banks reduce supply of jumbo mortgage loans when policy uncertainty increases in their headquarter …

We show that banks reduce the supply of jumbo mortgage loans when policy uncertainty increases, as measured by the …