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Till debt do us part : strategic divorces and a test of moral hazard

Kim, Yeorim; Mastrogiacomo, Mauro; Hochgürtel, Stefan; … - 2022

debt. We study the Dutch context, where qualifying homeowners can buy into a mortgage guarantee scheme that insures the … administrative data, we find a significant, 44% increase in the probability to divorce for households with an underwater mortgage … mortgage. Their home equity averages to about €-50.000. Couples with similar characteristics just above the qualification …

Persistent link: https://www.econbiz.de/10013329569

Second-degree moral hazard in a real-world credence goods market

Balafoutas, Loukas; Kerschbamer, Rudolf; Sutter, Matthias - 2013

Empirical literature on moral hazard focuses exclusively on the direct impact of asymmetric information on market outcomes, thus ignoring possible repercussions. We present a field experiment in which we consider a phenomenon that we call second-degree moral hazard - the tendency of the supply...

Persistent link: https://www.econbiz.de/10010207314

Does the Community Reinvestment Act increase small business lending in lower income neighborhoods?

Kim, Mee Jung; Lee, Kyung Min; Earle, John S. - 2021

We estimate the impact of the Community Reinvestment Act (CRA) on small business lending in lower-income neighborhoods. Using 2004-2016 panel data on census tracts, we apply a combined regression discontinuity and fixed effect method. We find that the number of small business loans increases by...

Persistent link: https://www.econbiz.de/10012609174

Division of labour and directed production

Ratto, Marisa (contributor); Schnedler, Wendelin (contributor) - 2005

We examine a situation where efforts on different tasks positively affect production but are not separately verifiable and where the manager (principal) and the worker (agent) have different ideas about how production should be carried out: agents prefer a less efficient way of production. We...

Persistent link: https://www.econbiz.de/10003011512

Moral hazard and less invasive medical treatment for coronary artery disease : the case of cigarette smoking

Margolis, Jesse; Hockenberry, Jason; Grossman, Michael; … - 2014

Comparisons of the effectiveness of two common procedures for Coronary Artery Disease: Percutaneous Coronary Intervention (PCI) and Coronary Artery Bypass Graft (CABG). Evidence indicates that CABG - the more invasive procedure - leads to superior long term outcomes for otherwise similar...

Persistent link: https://www.econbiz.de/10010409884

Mortgage indebtedness and household financial distress

Georgarakos, Dimitris; Lojschova, Adriana; … - 2009

Using comparable survey data from twelve European countries we investigate households' attitudes towards mortgage … households have a mortgage outstanding relative to countries where a sizeable part of the population uses mortgage debt, like the … reference households, and crucially so in countries with less expanded mortgage markets. Thus it appears that households …

Persistent link: https://www.econbiz.de/10003926442

Assessing the welfare effects of unemployment benefits using the regression kink design

Landais, Camille - 2013

I investigate in this paper partial equilibrium labor supply responses to unemployment insurance (UI) in the US. I use administrative data on the universe of unemployment spells in five states from the late 1970s to 1984, and non-parametrically identify the effect of both benefit level and...

Persistent link: https://www.econbiz.de/10009793437

Narrow bracketing and dominated choices

Rabin, Matthew (contributor); Weizsäcker, Georg (contributor) - 2007

An experiment by Tversky and Kahneman (1981) illustrates that people's tendency to evaluate risky decisions separately can lead them to choose combinations of choices that are first-order stochastically dominated by other available combinations. We investigate the generality of this effect both...

Persistent link: https://www.econbiz.de/10003561617

The effects of credit status on college attainment and college completion

Gicheva, Dora; Ionescu, Felicia; Simpson, Nicole B. - 2012

College students now use various forms of unsecured credit such as private student loans and credit cards to finance college. Access to these credit lines and the interest rates charged on these loans can vary significantly across credit scores. In this paper, we analyze if credit status, as...

Persistent link: https://www.econbiz.de/10009568588

Detecting mortgage delinquencies

Askitas, Nikos; Zimmermann, Klaus F. - 2011

Insights to detect ensuing mortgage delinquencies. Such searches locate documents which assist to write a successful loan … housing research. -- housing ; hardship letter ; loan delinquency ; mortgage ; National Delinquency Survey (NDS) ; financial …

Persistent link: https://www.econbiz.de/10009312194

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