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How Product Standardization Affects Choice: Evidence from the Massachusetts Health Insurance Exchange

Ericson, Keith M Marzilli; Starc, Amanda - National Bureau of Economic Research (NBER) - 2013

Standardization of complex products is touted as improving consumer decisions and intensifying price competition, but evidence on standardization is limited. We examine a natural experiment: the standardization of health insurance plans on the Massachusetts Health Insurance Exchange....

Persistent link: https://www.econbiz.de/10010821858

How Well Do Banks Manage Their Reserves?

Yaron, Amir; Jallath-Coria, Eduardo; Mukhopadhyay, Tridas - National Bureau of Economic Research (NBER) - 2002

In this paper we investigate how well banks manage their reserves. The optimal policy takes into account expected foregone interest on excess reserves and penalty costs for going below required reserves. Using a unique panel data-set on daily clearing house settlements of a cross-section of...

Persistent link: https://www.econbiz.de/10005718007

Rollover Risk and Market Freezes

Acharya, Viral V.; Gale, Douglas; Yorulmazer, Tanju - National Bureau of Economic Research (NBER) - 2010

little credit risk. The borrowing in this model takes the form of a repurchase agreement ("repo") or asset-backed commercial …" (the information state gets worse), or "no news" (the information state remains the same). When rollover risk is high … during the crisis for asset-backed securities with low credit risk once bad news about the underlying cash flows arrived. …

Persistent link: https://www.econbiz.de/10008601707

Reassessing FHA Risk

Caplin, Andrew; Leahy, John; Tracy, Joseph; Aragon, Diego; … - National Bureau of Economic Research (NBER) - 2010

review indicates that the FHA will not need any form of government support. We identify four risk factors that make such a … accuracy of FHA risk assessment. …

Persistent link: https://www.econbiz.de/10008624593

Continuous Workout Mortgages

Shiller, Robert J.; Wojakowski, Rafal M.; Ebrahim, M. Shahid - National Bureau of Economic Research (NBER) - 2011

on how to enhance the resilience of the financial architecture and mitigate systemic risk. …

Persistent link: https://www.econbiz.de/10009019683

Limited and Varying Consumer Attention: Evidence from Shocks to the Salience of Bank Overdraft Fees

Stango, Victor; Zinman, Jonathan - National Bureau of Economic Research (NBER) - 2011

We explore dynamics of limited attention in the $35 billion market for checking overdrafts, using survey content as shocks to the salience of overdraft fees. Conditional on selection into surveys, individuals who face overdraft-related questions are less likely to incur a fee in the survey...

Persistent link: https://www.econbiz.de/10009019687

The Inefficiency of Refinancing: Why Prepayment Penalties Are Good for Risky Borrowers

Mayer, Christopher; Piskorski, Tomasz; Tchistyi, Alexei - National Bureau of Economic Research (NBER) - 2010

This paper explores the practice of mortgage refinancing in a dynamic competitive lending model with risky borrowers and costly default. We show that prepayment penalties improve welfare by ensuring longer-term lending contracts, which prevents the mortgage pools from becoming disproportionately...

Persistent link: https://www.econbiz.de/10008756452

Do Households Benefit from Financial Deregulation and Innovation? The Case of the Mortgage Market

Rosen, Harvey; Gerardi, Kristopher; Willen, Paul - National Bureau of Economic Research (NBER) - 2007

relationship between the value of a household's home purchase and its future income. We find that over the past several decades …

Persistent link: https://www.econbiz.de/10005714895

The Impacts of Microcredit: Evidence from Bosnia and Herzegovina

Meghir, Costas; Augsburg, Britta; Haas, Ralph De; … - National Bureau of Economic Research (NBER) - 2012

household's business. We also present some evidence of increases in profits and a reduction in consumption and savings. There is … no evidence that the program increased overall household income. …

Persistent link: https://www.econbiz.de/10011188551

Challenges in Banking the Rural Poor: Evidence from Kenya's Western Province

Dupas, Pascaline; Green, Sarah; Keats, Anthony; … - National Bureau of Economic Research (NBER) - 2012

do not borrow because they do not want to risk losing their collateral. These results suggest that, while simply …

Persistent link: https://www.econbiz.de/10009493266