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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
terms) on those most likely to face credit or human capital constraints, or labor market discrimination. On the other hand …
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
lower credit risk because of other banks' participation. Efficient recapitalization is profitable if the benefits of lower … aggregate credit risk exceed the cost of implicit transfers to bank debt holders. …
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
Firms in Africa report "regulatory and economic policy uncertainty" as a top constraint to their growth. We argue that often firms in Africa do not cope with policy rules, rather they face deals; firm-specific policy actions that can be influenced by firm actions (e.g. bribes) and...
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
This paper asks whether startups react more to changing investment opportunities than more mature firms do. We use the fact that a region's pre-existing industrial structure creates exogenous variation in the severity of its exposure to nation-wide manufacturing shocks to develop an instrument...
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
We estimate the effect of the reduction in credit supply that followed the 2008 financial crisis on the real economy …
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 … individual-level micro data from Denmark. The reform allows us to disentangle the role of credit access from wealth effects that … typically confound analyses of the collateral channel. We find that a $30,000 increase in credit availability led to a 12 basis …
Persistent link: https://www.econbiz.de/10010969457