Credit Default Swaps have become a large part of financial markets and recently the center of debate between academics and regulators alike. Transferring the techniques to measure information flow between the CDS market and stock markets presented by Acharya and Johnson (2007), this paper looks...

By observing the economies of China, Germany, Japan, the United Kingdom and the United States, the article aims to study whether the economies are genuinely motivated to enhance global financial regulations. Throughout the Great Recession, the G20 nations have repeatedly declared that reforming...

Local authorities in North Carolina, and subsequently in at least 23 other states, have enacted laws intending to reduce predatory and abusive lending. While there is substantial variation in the laws, they typically extend the coverage of the Federal Home Ownership and Equity Protection Act...

Este trabajo muestra la fuerte incidencia económica, así como los importantes efectos distorsionadores, de cambiar solo el sujeto pasivo de un impuesto (también conocido como «cambiar la incidencia estatutaria o legal del impuesto», es decir, un cambio en el agente sobre el cual se grava el...

In this paper we develop a probability of default (PD) model for mortgage loans, taking advantage of the Spanish Credit Register, a comprehensive database on loan characteristics and credit quality. From that model, we calculate different types of PDs: point in time, PIT, through the cycle, TTC,...

La teoría de la renta permanente predice que en ausencia de restricciones al crédito las decisiones de gasto de los propietarios de vivienda dependen principalmente del tipo de interés de su hipoteca. Por el contrario, el consumo de hogares con acceso limitado al crédito depende de otras...

Artículo de revista ; The ratio between the amount of mortgage loans and the value of housing (the loan to value ratio) is a useful indicator for studying the financial situation of households. Two main price indicators are used to measure loan to value ratios for housing in Spain at the time...