Previous studies mostly focus on bank performance, but few studies have effectively investigated how efficiency is reduced as banks expand credit card or cash card issuances. This study seeks to investigate how bank's relaxations of card issuance and credit revolvers reduce bank efficiency...

This study develops estimates of expected loss severities on mortgage exposures using data from Florida during the Great Recession. This paper marks the first attempt at addressing sample selectivity in the context of loss models. We also construct measures of home equity that are more accurate...

We analyze the data of credit card holding and usage in Mexico, through a sample selection model. We find that some features of the household, such as income, head's education level and ownership of assets that can be used as collateral are related with the decision of having a credit card, as...

While Denmark has fairly flexible labour and product markets in most respects, the housing market stands out with large direct and indirect subsidies for all types of housing and a highly regulated rental market hindering mobility, probably resulting in a mismatch between housing needs and use....

Using new household-level data, we quantitatively assess the roles that job loss, negative equity, and wealth (including unsecured debt, liquid assets, and illiquid assets) play in default decisions. In sharp contrast to prior studies that proxy for individual unemployment status using regional...

This paper analyzes the problems of credit risk modeling of residential mortgage lending in Russia. Using unique mortgage loan and macro data from a regional branch of the Agency of Home Mortgage Lending (2008-2012), we find that borrower and mortgage loan characteristics affect the loan...

This paper estimates tenure choice and housing demand equations in Italy, using cross-section data from the Bank of Italy 1991 Survey. The data include information on housing characteristics that is used to calculate hedonic price indexes for the Italian housing market. Empirical literature in...

The paper analyzes the problems of credit risk modeling on the Russian residential mortgage market. The structural model of the credit risk evaluation, which controls for the sample selection bias and endogeneity, is presented. It estimates based on the regional mortgage data. Obtained results...

One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higherincome households. Using household level data on...

One suggested hypothesis for the dramatic rise in household borrowing that preceded the financial crisis is that low-income households increased their demand for credit to finance higher consumption expenditures in order to "keep up" with higher-income households. Using household level data on...