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Policy Intervention in Debt Renegotiation : Evidence from the Home Affordable Modification Program
Agarwal, Sumit - 2012
We evaluate the effects of the 2009 Home Affordable Modification Program (HAMP) that provided intermediaries with sizeable financial incentives to renegotiate mortgages. HAMP increased intensity of renegotiations and prevented substantial number of foreclosures but reached just one-third of its...
Persistent link: https://www.econbiz.de/10013101335
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How Do Regulators Influence Mortgage Risk : Evidence from an Emerging Market
Campbell, John Y. - 2015
To understand the effects of regulation on mortgage risk, it is instructive to track the history of regulatory changes …-changing regulation impacted mortgage lending and risk. We use cross-sectional differences in the time- series variation of delinquency … rates, conditional on initial interest rates, to detect the effects of regulation on mortgage delinquencies …
Persistent link: https://www.econbiz.de/10013036490
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Misallocation, Economic Growth, and Input-Output Economics
Jones, Charles I. - 2011
One of the most important developments in the growth literature of the last decade is the enhanced appreciation of the role that the misallocation of resources plays in helping us understand income differences across countries. Misallocation at the micro level typically reduces total factor...
Persistent link: https://www.econbiz.de/10013130964
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Capital and Labor Reallocation Inside Firms
Giroud, Xavier - 2012
We document how a plant-specific shock to investment opportunities at one plant of a firm ("treated plant") spills over to other plants of the same firm--but only if the firm is financially constrained. While the shock triggers an increase in investment and employment at the treated plant, this...
Persistent link: https://www.econbiz.de/10013096857
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Capital Reallocation and Aggregate Productivity
Cooper, Russell - 2013
This paper studies the interaction between capital reallocation and business cycles. Capital reallocation is pro-cyclical and leads to variations in measured aggregate productivity. Using a simulated method of moments approach, different sources of aggregate fluctuations are studied to assess...
Persistent link: https://www.econbiz.de/10013071893
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Subsidies to Industry and the Environment
Kelly, David L. - 2010
Governments support particular firms or sectors by granting low interest financing, reduced regulation, tax relief …
Persistent link: https://www.econbiz.de/10013152667
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Cross-Country Differences in Productivity : the Role of Allocation and Selection
Bartelsman, Eric J. - 2009
This paper combines different strands of the productivity literature to investigate the effect of idiosyncratic (firm-level) policy distortions on aggregate outcomes. On the one hand, a growing body of empirical research has been relating cross-country differences in key economic outcomes, such...
Persistent link: https://www.econbiz.de/10013155018
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Public Action for Public Goods
Banerjee, Abhijit V. - 2007
This paper focuses on the relationship between public action and access to public goods. It begins by developing a simple model of collective action which is intended to capture the various mechanisms that are discussed in the theoretical literature on collective action. We argue that several of...
Persistent link: https://www.econbiz.de/10012777645
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Revisiting the Commodity Curse : A Financial Perspective
Alberola, Enrique - 2017
effect that stimulates demand and has long-run implications on the sectoral allocation of labour. If dynamic productivity …
Persistent link: https://www.econbiz.de/10012962189
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Equilibrium Allocations Under Alternative Waitlist Designs : Evidence from Deceased Donor Kidneys
Agarwal, Nikhil - 2019
Waitlists are often used to ration scarce resources, but the trade-offs in designing these mechanisms depend on agents preferences. We study equilibrium allocations under alternative designs for the deceased donor kidney waitlist. We model the decision to accept an organ or wait for a preferable...
Persistent link: https://www.econbiz.de/10012891330