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Do the Rich Save More in Canada?
Alan, Sule; Atalay, Kadir; Crossley, Thomas F. - 2013
fraction of their income. The major difficulty in empirically assessing the relationship between incomes and saving rates is to … construct a credible proxy for long-run income - purged of transitory fluctuations and measurement error. The Canadian Family … reliable long-run income proxies. Our empirical analysis suggests that the estimated relationship between saving rates and long …
Persistent link: https://www.econbiz.de/10010500251
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Spending responses to state sales tax holidays
Agarwal, Sumit; McGranahan, Leslie - 2012
Every year over 20 states offer sales tax holidays (STHs) on specific items like clothes, shoes and other items to encourage consumption, effecting over 100 million consumers. We use a unique dataset of credit cards transaction to study the spending response to these holidays. Using a...
Persistent link: https://www.econbiz.de/10010292191
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Making sense of the subprime crisis
Gerardi, Kristopher S.; Lehnert, Andreas; Sherland, Shane M. - 2009
This paper explores the question of whether market participants could have or should have anticipated the large increase in foreclosures that occurred in 2007 and 2008. Most of these foreclosures stemmed from loans originated in 2005 and 2006, leading many to suspect that lenders originated a...
Persistent link: https://www.econbiz.de/10010292214
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What explains differences in foreclosure rates? A response to Piskorski, Seru, and Vig
Adelino, Manuel; Gerardi, Kristopher; Willen, Paul - 2010
In this note we discuss the findings in Piskorski, Seru, and Vig (2010) as well as the authors' interpretation of their results. First, we find that small changes to the set of covariates used by Piskorski, Seru, and Vig significantly reduce the magnitude of the differences in foreclosure rates...
Persistent link: https://www.econbiz.de/10010292234
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Decomposing the foreclosure crisis: House price depreciation versus vad underwriting
Gerardi, Kristopher; Shapiro, Adam Hale; Willen, Paul S. - 2009
We estimate a model of foreclosure using a data set that includes every residential mortgage, purchase-and-sale, and foreclosure transaction in Massachusetts from 1989 to 2008. We address the identification issues related to the estimation of the effects of house prices on residential...
Persistent link: https://www.econbiz.de/10010292310
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Reducing foreclosures: No easy answers
Foote, Christopher L.; Gerardi, Kristopher; Goette, Lorenz - 2009
illustrate that unaffordable loans, defined as those with high mortgage payments relative to income at origination, are unlikely …
Persistent link: https://www.econbiz.de/10010292331
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Why don’t lenders renegotiate more home mortgages? The effect of securitization
Adelino, Manuel; Gerardi, Kristopher; Willen, Paul - 2010
Securitization does not explain the reluctance among lenders to renegotiate home mortgages. We focus on seriously delinquent borrowers from 2005 through the third quarter of 2008 and show that servicers renegotiate similarly small fractions of securitized and portfolio loans. The results are...
Persistent link: https://www.econbiz.de/10010292339
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Subprime mortgages, foreclosures, and urban neighborhoods
Gerardi, Kristopher S.; Willen, Paul S. - 2009
topic using a data set that matches race and income information from Home Mortgage Disclosure Act data with property …
Persistent link: https://www.econbiz.de/10010292355
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Beyond cash: Assessing externality and behaviour effects of non-experimental cash transfers
Ribas, Rafael Perez; Soares, Fábio Veras; Teixeira, … - 2010
decomposition to investigate whether changes in household outcomes are caused by the income transfer itself or by the other non … on both income and consumption. The results indicate that the programme has a small impact on consumption and a … is significantly related to a substitution effect and is not related to the increase in income. …
Persistent link: https://www.econbiz.de/10010293287
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Externality and behavioural change effects of a non-randomised CCT programme: Heterogeneous impact on the demand for health and education
Teixeira, Clarissa Gondim; Soares, Fabio Veras; Ribas, … - 2011
This paper investigates the impact of the pilot phase of Paraguay's conditional cash transfer programme, Tekoporã, on the demand for healthcare and education, and how much of this impact was due to the cash transfers and/or due to changes in behaviour/preferences, possibly as an effect of...
Persistent link: https://www.econbiz.de/10010293316