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Corporate Social Responsibility
Hong, Harrison G.; Shore, Edward P. - National Bureau of Economic Research - 2022
categorize the literature into seven tests: (1) costs of capital, (2) performance of portfolios, (3) ownership by types of …
Persistent link: https://www.econbiz.de/10013477263
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How do Financial Crises Redistribute Risk?
Mitchener, Kris; Vossmeyer, Angela - National Bureau of Economic Research - 2023
We examine how financial crises redistribute risk, employing novel empirical methods and micro data from the largest … financial crisis of the 20th century - the Great Depression. Using balance-sheet and systemic risk measures at the bank level … (consolidations, absorption, and failures), and changes to bank risk. Despite roughly 9,000 bank closures, risk did not leave the …
Persistent link: https://www.econbiz.de/10014337771
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Strategic Money and Credit Ledgers
Brunnermeier, Markus Konrad; Payne, Jonathan - National Bureau of Economic Research - 2023
This paper studies strategic decision making by a private currency ledger operator, which faces competition from public money and/or other ledgers. A monopoly ledger operator can incentivize contract enforcement across the financial sector by threatening exclusion, but it can also impose markups...
Persistent link: https://www.econbiz.de/10014337794
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The Value of Intermediaries for GSE Loans
Bosshardt, Joshua; Kakhbod, Ali; Kermani, Amir - National Bureau of Economic Research - 2023
regulatory data. We find evidence of lenders pricing for observable and unobservable default risk independently from the GSEs …
Persistent link: https://www.econbiz.de/10014337808
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Infrastructure and Finance : Evidence from India's GQ Highway Network
Das, Abhiman; Ghani, Ejaz; Grover, Arti; Kerr, William R.; … - National Bureau of Economic Research - 2023
We use data from Reserve Bank of India to study the impact of India's Golden Quadrilateral (GQ) highway project on finance-dependent activity. Loan volumes increase by 20-30% in districts along GQ and are stronger in industries more dependent upon external finance. Loan growth begins with...
Persistent link: https://www.econbiz.de/10014337823
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Regulatory Arbitrage or Random Errors? Implications of Race Prediction Algorithms in Fair Lending Analysis
Greenwald, Daniel; Howell, Sabrina T.; Li, Cangyuan; … - National Bureau of Economic Research - 2023
When race is not directly observed, regulators and analysts commonly predict it using algorithms based on last name and address. In small business lending--where regulators assess fair lending law compliance using the Bayesian Improved Surname Geocoding (BISG) algorithm--we document large...
Persistent link: https://www.econbiz.de/10014337878
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Trade Uncertainty and U.S. Bank Lending
Correa, Ricardo; Di Giovanni, Julian; Goldberg, Linda S.; … - National Bureau of Economic Research - 2023
This paper uses U.S. loan-level credit register data and the 2018-2019 Trade War to test for the effects of international trade uncertainty on domestic credit supply. We exploit cross-sectional heterogeneity in banks' ex-ante exposure to trade uncertainty and find that an increase in trade...
Persistent link: https://www.econbiz.de/10014436991
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Are Swedish House Prices Too High? Why the Price-to-Income Ratio Is a Misleading Indicator
Svensson, Lars E. O. - National Bureau of Economic Research - 2023
According to ECB (2023) and European Systemic Risk Board (2022), Swedish owner-occupied housing (OOH) was overvalued by …
Persistent link: https://www.econbiz.de/10014436993
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The Deposit Business at Large vs. Small Banks
Avernas, Adrien d'; Eisfeldt, Andrea L.; Huang, Can; … - National Bureau of Economic Research - 2023
The deposit business differs at large versus small banks. We provide a parsimonious model and extensive empirical evidence supporting the idea that much of the variation in deposit-pricing behavior between large and small banks reflects differences in "preferences and technologies." Large banks...
Persistent link: https://www.econbiz.de/10014436996
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Contingent Credit Under Stress
Acharya, Viral V.; Jager, Maximilian; Steffen, Sascha - National Bureau of Economic Research - 2023
Over the past two decades, banks have increasingly focused on offering contingent credit in the form of credit lines as a primary means of corporate borrowing. We review the existing body of research regarding the rationales for banks' provision of liquidity insurance in the form of credit...
Persistent link: https://www.econbiz.de/10014437040