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The Impact of House Prices on Consumer Credit : Evidence from an Internet Bank
Ramcharan, Rodney - 2012
This paper shows that house price fluctuations can have a significant impact on credit markets well beyond the mortgage segment. Using new data from Prosper.com, a peer to peer lending site that matches borrowers and lenders to provide unsecured consumer loans, we find evidence that home owners...
Persistent link: https://www.econbiz.de/10013096063
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Mortgage Debt and Household Deleveraging : Accounting for the Decline in Mortgage Debt Using Consumer Credit Record Data
Bhutta, Neil - 2012
One of the major reasons hypothesized for the tepid economic recovery thus far is the ongoing "deleveraging" process. From 2009:Q3 to 2011:Q3, aggregate household debt declined by about $1.5 trillion in real terms, with mortgage debt falling by about $1 trillion. Other than defaults, the factors...
Persistent link: https://www.econbiz.de/10013106986
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Payday Lending Regulation
Kaufman, Alex - 2013
To date the debate over payday lending has focused on whether access to such lending is on net beneficial or harmful to consumer welfare. However, payday loans are not one product but many, and different forms of lending may have different welfare implications. The current diversity in payday...
Persistent link: https://www.econbiz.de/10013073386
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The COVID-19 Shock and Consumer Credit : Evidence from Credit Card Data
Horvath, Akos; Kay, Benjamin S.; Wix, Carlo - 2021
We use credit card data from the Federal Reserve Board's FR Y-14M reports to study the impact of the COVID-19 shock on the use and availability of consumer credit across borrower types from March through August 2020. We document an initial sharp decrease in credit card transactions and...
Persistent link: https://www.econbiz.de/10013231925
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The Credit Card Act and consumer finance company lending
Elliehausen, Gregory E.; Hannon, Simona M. - 2017
The Credit Card Accountability and Disclosure Act (CARD Act) of 2009 restricted several risk management practices of … consistent with the hypothesis that the act's restrictions on risk management practices contributed to a large decline in bank … card holding by higher risk, nonprime consumers but had little effect on prime consumers. Looking at consumer finance loans …
Persistent link: https://www.econbiz.de/10011710086
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Credit Availability and the Collapse of the Banking Sector in the 1930s
Carlson, Mark A. - 2011
This paper examines the mechanism through which banking sector distress affects the availability of credit. We use the experience of the United States during the Great Depression, a period of intense bank distress, to conduct our analysis. We utilize previously neglected data from a 1934 survey...
Persistent link: https://www.econbiz.de/10013118655
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The Influence of Fannie and Freddie on Mortgage Loan Terms
Kaufman, Alex - 2012
This paper uses a novel instrumental variables approach to quantify the effect that GSE purchase eligibility had on equilibrium mortgage loan terms in the period from 2003 to 2007. The technique is designed to eliminate sources of bias that may have affected previous studies. GSE eligibility...
Persistent link: https://www.econbiz.de/10013104546
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The Influence of Fannie and Freddie on Mortgage Loan Terms
Kaufman, Alex - 2012
This paper uses a novel instrumental variables approach to quantify the effect that GSE purchase eligibility had on equilibrium mortgage loan terms in the period from 2003 to 2007. The technique is designed to eliminate sources of bias that may have affected previous studies. GSE eligibility...
Persistent link: https://www.econbiz.de/10013106465
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The Prolonged Resolution of Troubled Real Estate Lenders During the 1930s
Rose, Jonathan - 2012
This paper studies how building and loan associations (B&Ls) slowly unwound their obligations following a set of financial shocks during the Great Depression, with a special focus on a group of particularly troubled B&Ls in Newark, NJ. Investors in B&Ls disagreed over whether to realize losses...
Persistent link: https://www.econbiz.de/10013106763
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Sowing the Seeds of Financial Imbalances : The Role of Macroeconomic Performance
Afanasyeva, Elena - 2020
The seeds of financial imbalances are sown in times of buoyant economic growth. We study the link between macroeconomic performance and financial imbalances, focusing on the experience of the United States since the 1960s. We first follow a narrative approach to review historical episodes of...
Persistent link: https://www.econbiz.de/10012834049