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Can Regulation De-bias Appraisers?
Agarwal, Sumit - 2019
the incidence of inflated collateral valuations. We identify the impact of the regulation using a difference …-in-difference identification strategy. Our baseline results confirm that the regulation reduced inflated valuations in refinance transactions by 16 …-liquidity and low-distress markets, but not in other markets. We find that the regulation had a significant impact on loan to value …
Persistent link: https://www.econbiz.de/10012904751
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Banking Competition and Shrouded Attributes : Evidence from the US Mortgage Market
Agarwal, Sumit - 2020
We document that banking deregulation leads banks to offer lower initial rates on adjustable-rate mortgages to attract …
Persistent link: https://www.econbiz.de/10012854765
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Bank Stress Test Results and Their Impact on Consumer Credit Markets
Agarwal, Sumit - 2020
Using Federal Reserve (Fed) confidential stress test data, we exploit the gap between the Fed and bank capital projections as an exogenous shock to banks and analyze how this shock is transmitted to consumer credit markets. First, we document that banks in the 90th percentile of the capital gap...
Persistent link: https://www.econbiz.de/10012827732
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Did the Community Reinvestment Act (CRA) Lead to Risky Lending?
Agarwal, Sumit - 2015
Yes, it did. We use exogenous variation in banks' incentives to conform to the standards of the Community Reinvestment Act (CRA) around regulatory exam dates to trace out the effect of the CRA on lending activity. Our empirical strategy compares lending behavior of banks undergoing CRA exams...
Persistent link: https://www.econbiz.de/10013036301
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Bank Stress Test Results and Their Impact on Consumer Credit Markets
Agarwal, Sumit; An, Xudong; Cordell, Larry; Roman, Raluca A. - 2020
Using Federal Reserve (Fed) confidential stress test data, we exploit the gap between the Fed and bank capital projections as an exogenous shock to banks and analyze how this shock is transmitted to consumer credit markets. First, we document that banks in the 90th percentile of the capital gap...
Persistent link: https://www.econbiz.de/10014048801
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Regulating Consumer Financial Products: Evidence from Credit Cards
Agarwal, Sumit; Chomsisengphet, Souphala; Mahoney, Neale; … - National Bureau of Economic Research (NBER) - 2013
We analyze the effectiveness of consumer financial regulation by considering the 2009 Credit Card Accountability …
Persistent link: https://www.econbiz.de/10010951059
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Inconsistent Regulators: Evidence From Banking
Trebbi, Francesco; Agarwal, Sumit; Lucca, David; Seru, Amit - National Bureau of Economic Research (NBER) - 2012
these differences. These findings suggest that inconsistent oversight can hamper the effectiveness of regulation by delaying …
Persistent link: https://www.econbiz.de/10009401252
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Learning to Cope: Voluntary Financial Education and Loan Performance during a Housing Crisis
Agarwal, Sumit; Amromin, Gene; Ben-David, Itzhak; … - In: American Economic Review 100 (2010) 2, pp. 495-500
Persistent link: https://www.econbiz.de/10008584573
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Corporate ESG Profiles and Consumption
Agarwal, Sumit; Gu, Quanlin; He, Jia; Zhang, Qi - 2023
Using transaction-level credit card spending from a leading Chinese commercial bank, we show that consumers prefer firms with higher Environmental, Social and Governance (ESG) profiles. Specifically, we show that consumers increase their consumption by 4.9 percentage points as the ESG rating...
Persistent link: https://www.econbiz.de/10014348889
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Liquidity Constraint Threat and Household Indebtedness
Agarwal, Sumit; Qian, Wenlan; Zou, Xin - 2023
effectiveness of a consumer financial regulation aiming to reduce household unsecured debt accumulation. A threat of suspending all …
Persistent link: https://www.econbiz.de/10014350728