data indicate that bank failures in a county are associated with a reduction in debt and rewards crowdfunding, and total … crowdfunding (including donations and rewards as well, however, bank failures are statistically unrelated to those types of … crowdfunding in our empirical setting). The data are consistent with bank failures being associated with a reduction in the …

heterogeneity in human capital available to bank headquarters to explain banks' patenting activities. Banks that innovate increase … mortgage and small business lending without impairing the quality of their loan portfolio. Finally, we show that the innovation …

The 30-year fixed-rate fully amortizing mortgage (or "traditional fixed-rate mortgage") was a substantial innovation … accumulation, many lenders require large down payments. Second, in each monthly mortgage payment, homeowners substantially …. To resolve these three flaws, we propose a new fixed-rate mortgage, called the Fixed-Payment-COFI mortgage (or "Fixed …

mortgage rate. In the longer run, the supply of unregulated debt increases by almost 50 percent. We corroborate our findings by …

positive relationship between screening effort and the delay of sale. We test this theoretical prediction using the mortgage … market as a laboratory, with processing time serving as a measure of screening effort. In line with the theory, mortgage … delay of sale are negatively related to conditional mortgage default, even though mortgages with higher ex ante credit risk …

represent uniquely opaque organizations for investors in capital markets. Although bank regulatory policy has long sought to … promote market discipline of banks through enhanced public disclosure, bank regulatory disclosures are notoriously lacking in … the confidentiality of a bank's proprietary investment strategies and customer information. When particular market sectors …