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Understanding bank and nonbank credit cycles : a structural exploration
Durdu, Ceyhun Bora; Zhong, Molin - 2019
We explore the structural drivers of bank and nonbank credit cycles using an estimated medium-scale macro model that allows for bank and nonbank financial intermediation. We posit economy-wide aggregate and sectoral disturbances to potentially drive bank and nonbank credit growth. We find that...
Persistent link: https://www.econbiz.de/10012181042
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The Mechanics of a Graceful Exit : Interest on Reserves and Segmentation in the Federal Funds Market
Klee, Elizabeth - 2011
To combat the financial crisis that intensified in the fall of 2008, the Federal Reserve injected a substantial amount of liquidity into the banking system. The resulting increase in reserve balances exerted downward price pressure in the federal funds market, and the effective federal funds...
Persistent link: https://www.econbiz.de/10013128715
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How Do Joint Supervisors Examine Financial Institutions? The Case of State Banks
Rezende, Marcelo - 2011
This paper studies what determines whether federal and state supervisors examine state banks independently or together … capabilities and more banks to supervise. I find that states with larger budgets examine more banks independently, that they … accommodate changes in the number of banks mostly through the number of examinations with a federal supervisor and that, when …
Persistent link: https://www.econbiz.de/10013118649
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Credit Availability and the Collapse of the Banking Sector in the 1930s
Carlson, Mark A. - 2011
utilize previously neglected data from a 1934 survey conducted by the Federal Reserve System of both banks and Chambers of …
Persistent link: https://www.econbiz.de/10013118655
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The Post-Foreclosure Experience of U.S. Households
Molloy, Raven - 2011
Despite the recent flood of foreclosures on residential mortgages, little is known about what happens to borrowers and their households after their mortgage has been foreclosed. We study the post-foreclosure experience of U.S. households using a unique dataset based on the credit reports of a...
Persistent link: https://www.econbiz.de/10013118658
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Are Adjustable-Rate Mortgage Borrowers Borrowing Constrained?
Johnson, Kathleen - 2011
Past research argues that changes in adjustable-rate mortgage (ARM) payments may lead households to cut back on consumption or to default on their mortgages. In this paper, we argue that these outcomes are more likely if ARM borrowers are borrowing constrained, and find that ARM borrowers...
Persistent link: https://www.econbiz.de/10013124982
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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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Estimating Changes in Supervisory Standards and Their Economic Effects
Bassett, William F. - 2012
The disappointingly slow recovery in the U.S. from the recent recession and financial crisis has once again focused attention on the relationship between financial frictions and economic growth. With bank loans having only recently started growing and still sluggish, some bankers and borrowers...
Persistent link: https://www.econbiz.de/10013096068
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Bank Capital Ratios and the Structure of Nonfinancial Industries
Lee, Seung Jung - 2012
We exploit variation in commercial bank capital ratios across states to identify the impact of commercial bank balance sheet pressures manifested through changes in capital ratios on employment in the manufacturing sector. For industries dependent on external finance, we find that an increase in...
Persistent link: https://www.econbiz.de/10013096073
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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