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Reassessing FHA Risk
Caplin, Andrew; Leahy, John; Tracy, Joseph; Aragon, Diego; … - National Bureau of Economic Research (NBER) - 2010
Federal Housing Administration (FHA) insurance has doubled over the past two years and is projected to redouble to $1.5 trillion over the next five. Despite clear signs of strain in the FHA's Mutual Mortgage Insurance Fund, a recent actuarial review indicates that the FHA will not need any form...
Persistent link: https://www.econbiz.de/10008624593
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Behind the GATE Experiment: Evidence on Effects of and Rationales for Subsidized Entrepreneurship Training
Fairlie, Robert W.; Karlan, Dean; Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2012
Various theories of market failures and targeting motivate the promotion of entrepreneurship training programs … throughout the world. Using data from the largest randomized control trial ever conducted on entrepreneurship training, we … other horizons or for other outcomes. On average, training increases short-run business ownership and employment, but there …
Persistent link: https://www.econbiz.de/10009652871
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The Future of the Government Sponsored Enterprises: The Role for Government in the U.S. Mortgage Market
Quigley, John M.; Jaffee, Dwight - National Bureau of Economic Research (NBER) - 2011
This paper analyzes options for reforming the U.S. housing finance system in view of the failure of Fannie Mae and Freddie Mac as government sponsored enterprises (GSEs). The options considered include GSE reform, a range of possible new governmental mortgage guarantee plans, and greater...
Persistent link: https://www.econbiz.de/10009395462
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Efficient Recapitalization
PHILIPPON, Thomas; Schnabl, Philipp - National Bureau of Economic Research (NBER) - 2009
We analyze government interventions to recapitalize a banking sector that restricts lending to firms because of debt overhang. We find that the efficient recapitalization program injects capital against preferred stock plus warrants and conditions implementation on sufficient bank participation....
Persistent link: https://www.econbiz.de/10005000616
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Deals versus Rules: Policy Implementation Uncertainty and Why Firms Hate It
Hallward-Driemeier, Mary; Pritchett, Lant; Khun-Jush, Gita - National Bureau of Economic Research (NBER) - 2010
. These measures of implementation variability are more strongly related to lower firm employment growth than are measures of …
Persistent link: https://www.econbiz.de/10008627129
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Who Benefits from State Corporate Tax Cuts? A Local Labor Markets Approach with Heterogeneous Firms
Serrato, Juan Carlos Suárez; Zidar, Owen - National Bureau of Economic Research (NBER) - 2014
This paper estimates the incidence of state corporate taxes on the welfare of workers, landowners, and firm owners using variation in state corporate tax rates and apportionment rules. We develop a spatial equilibrium model with imperfectly mobile firms and workers. Firm owners may earn profits...
Persistent link: https://www.econbiz.de/10011082677
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Firm Age, Investment Opportunities, and Job Creation
Robinson, David T.; Adelino, Manuel; Ma, Song - National Bureau of Economic Research (NBER) - 2014
nation-wide manufacturing shocks to develop an instrument for changing investment opportunities, and examine employment …
Persistent link: https://www.econbiz.de/10010796713
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Do Credit Market Shocks affect the Real Economy? Quasi-Experimental Evidence from the Great Recession and ‘Normal’ Economic Times
Greenstone, Michael; Mas, Alexandre; Nguyen, Hoai-Luu - National Bureau of Economic Research (NBER) - 2014
firm and overall employment. Predicted lending shocks affected lending but not employment from 1997-2007. …
Persistent link: https://www.econbiz.de/10011079877
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Deposit Insurance Database
Demirguc-Kunt, Asli; Kane, Edward J.; Laeven, Luc - National Bureau of Economic Research (NBER) - 2014
This paper provides a comprehensive, global database of deposit insurance arrangements as of 2013. We extend our earlier dataset by including recent adopters of deposit insurance and information on the use of government guarantees on banks' assets and liabilities, including during the recent...
Persistent link: https://www.econbiz.de/10010969341
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Housing Collateral, Credit Constraints and Entrepreneurship - Evidence from a Mortgage Reform
Jensen, Thais Lærkholm; Leth-Petersen, Søren; Nanda, … - National Bureau of Economic Research (NBER) - 2014
We study how a mortgage reform that exogenously increased access to credit had an impact on entrepreneurship, using … point increase in entrepreneurship, equivalent to a 4% increase in the number of entrepreneurs. New entrants were more … benefit from the reform. Our results provide evidence that credit constraints do affect entrepreneurship, but that the overall …
Persistent link: https://www.econbiz.de/10010969457