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Shocks to bank lending, risk-taking, securitization, and their role for US business cycle fluctuations

Peersman, Gert; Wagner, Wolf - 2014

Shocks to bank lending, risk-taking and securitization activities that are orthogonal to real economy and monetary … type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank … using a model of bank risk-taking and securitization. …

Persistent link: https://www.econbiz.de/10010257361

Pooling, tranching and credit expansion

Bougheas, Spiros P. - 2012

Traditionally banks have used securitization for expanding credit and thus their profitability. It has been well …-rated tranche. This paper builds a simple model of securitization that accounts for the above retention strategies. Banks in the … predicted retention strategies match well those found in empirical studies. -- securitization ; tranching ; credit expansion …

Persistent link: https://www.econbiz.de/10009570572

Using bankruptcy to reduce foreclosures : does strip-down of mortgages affect the supply of mortgage credit?

Li, Wenli; Ishani, Tewari; White, Michelle J. - 2014 - Current version: February 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 Chapter 13 bankruptcy. Our identification is provided...

Persistent link: https://www.econbiz.de/10010337629

Monetary policy, funding cost and banks’ risk-taking : evidence from the United States

Bürgi, Constantin; Jiang, Bo - 2022

How much deposits and equity a bank has influences how a banks’ lending responds to monetary policy. While the responsiveness for the bank lending channel has been well established, this is not the case for the risk-taking channel (RTC). We show in a value-at-risk RTC model that the lending...

Persistent link: https://www.econbiz.de/10013390943

Do banks pass through credit expansions? : the marginal profitability of consumer lending during the Great Recession

Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; … - 2015

We examine the ability of policymakers to stimulate household borrowing and spending during the Great Recession by reducing banks' cost of funds. Using panel data on 8.5 million U.S. credit card accounts and 743 credit limit regression discontinuities, we estimate the marginal propensity to...

Persistent link: https://www.econbiz.de/10011343066

Measurement and determinants of access to loans

Hainz, Christa; Nabokin, Tatjana - 2013

Measuring and identifying financial constraints represents an important challenge in empirical studies. Due to data limitations perception-based indicators or approximations of access to finance by the usage of finance are often used, disregarding firm-specific differences in the demand for...

Persistent link: https://www.econbiz.de/10009728261

Supply restrictions, subprime lending and regional US house prices

Anundsen, André Kallåk; Heebøll, Christian - 2015

With regard to the recent US house price cycle, we analyze how the interaction between housing supply restrictions, mortgage credit constraints and a price-to-price feedback loop affects house price volatility. Considering 247 Metropolitan Statistical Areas, we estimate a simultaneous boom-bust...

Persistent link: https://www.econbiz.de/10010488113

Racial disparities in access to small business credit : evidence from the paycheck protection program

Howell, Sabrina T.; Kuchler, Theresa; Snitkof, David; … - 2021

We explore the sources of racial disparities in small business lending by studying the $806 billion Paycheck Protection Program (PPP), which was designed to support small business jobs during the COVID-19 pandemic. PPP loans were administered by private lenders but federally guaranteed, largely...

Persistent link: https://www.econbiz.de/10012643529

Global investors, the dollar, and U.S. credit conditions

Niepmann, Friederike; Schmidt-Eisenlohr, Tim - 2018

This paper documents that an appreciation of the U.S. dollar is associated with a reduction in the supply of commercial and industrial loans by U.S. banks. An increase in the broad dollar index by 2.5 points (one standard deviation) reduces U.S. banks' corporate loan originations by 10 percent....

Persistent link: https://www.econbiz.de/10011922169

The loan puzzle : a study of loans to different groups in the USA.

Cafiso, Gianluca - 2020

We study loans from banking and non-banking lenders to different groups of borrowers in order to unveil significant differences on how those respond to a shock and evaluate possible alternative explanations for such differences. The objective is to gain insights useful to explain the loan...

Persistent link: https://www.econbiz.de/10012194423

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