The Attractions and Perils of Flexible Mortgage Lending
in The Review of Financial Studies
October 2013; p ublished online August 2013 .
Journal Article. Subjects: Banking; Household Behaviour and Family Economics. 15803 words.
A mortgage program that offered borrowers greater flexibility in the timing of repayments increased a bank's volume by over 35%. Loans in the program exhibited superior performance. Despite...
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Contagious Effects of a Political Intervention in Debt Contracts: Evidence Using Loan-Level Data
in The Review of Financial Studies
November 2018; p ublished online January 2018 .
Journal Article. Subjects: Household Behaviour and Family Economics; Financial Regulation; Banking. 17056 words.
Abstract
Using an unexpected government regulation that restricted the ability of microfinance institutions to recover loans in one Indian state, I examine...
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Credit Line Usage, Checking Account Activity, and Default Risk of Bank Borrowers
in The Review of Financial Studies
October 2010; p ublished online August 2010 .
Journal Article. Subjects: Household Behaviour and Family Economics; Information, Knowledge, and Uncertainy; Financial Institutions and Services; Banking; Corporate Governance. 14969 words.
Information on borrower quality is a fundamental issue in debt contracting, corporate and consumer finance, and financial intermediation. We investigate the link between account activity...
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The euroization of bank deposits in Eastern Europe
in Economic Policy
January 2015; p ublished online December 2014 .
Journal Article. Subjects: Household Behaviour and Family Economics; Banking; Money and Interest Rates. 16853 words.
In Central, Eastern and Southeastern Europe a substantial share of bank deposits are denominated in foreign currency. Deposit euroization poses key challenges for monetary policy and...
Expanding Credit Access: Using Randomized Supply Decisions to Estimate the Impacts
in The Review of Financial Studies
January 2010; p ublished online November 2009 .
Journal Article. Subjects: Household Behaviour and Family Economics; Banking; Welfare and Poverty. 14711 words.
Expanding access to commercial credit is a key ingredient of financial development strategies. There is less consensus on whether expanding access to consumer credit helps borrowers,...
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Financing from Family and Friends
in The Review of Financial Studies
September 2016; p ublished online May 2016 .
Journal Article. Subjects: Corporate Governance; Banking; Economic Development; Household Behaviour and Family Economics; Welfare Economics. 19816 words.
Most informal finance comes from family and friends. Existing informal finance theories cannot match two characteristics of family finance: family investors may accept below-market or even...
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The geography of financial inclusion across Europe during the global crisis
in Journal of Economic Geography
September 2015; p ublished online January 2015 .
Journal Article. Subjects: Household Behaviour and Family Economics; Banking. 13447 words.
This article identifies the main determinants of financial inclusion, defined as the probability of using both banking and credit services, across 18 Eastern European economies and 5...
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Immigrant banking and financial exclusion in Greater Boston
in Journal of Economic Geography
November 2010; p ublished online November 2009 .
Journal Article. Subjects: Household Behaviour and Family Economics; Demographic Economics; Urban, Rural, and Regional Economics; Banking. 12205 words.
Immigrants' lack of financial integration has been explained by individual characteristics including education, income, legal status and English ability, with little attention given to the...
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The Labor Market Effects of Credit Market Information
in The Review of Financial Studies
June 2018; p ublished online January 2018 .
Journal Article. Subjects: Banking; Financial Institutions and Services; Household Behaviour and Family Economics; Demand and Supply of Labour. 15740 words.
Abstract
We exploit a natural experiment to provide one of the first measurements of the causal effect of negative credit information on employment and...
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Securitization and Loan Performance: Ex Ante and Ex Post Relations in the Mortgage Market
in The Review of Financial Studies
February 2014; p ublished online November 2013 .
Journal Article. Subjects: Banking; Household Behaviour and Family Economics. 13659 words.
This study examines the relation between securitization and loan performance using a comprehensive dataset from a major national mortgage lender. Loans remaining on the bank's balance sheet...
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Understanding the Subprime Mortgage Crisis
in The Review of Financial Studies
June 2011; p ublished online May 2009 .
Journal Article. Subjects: Household Behaviour and Family Economics; Economics; Financial Institutions and Services; Banking. 13978 words.
Using loan-level data, we analyze the quality of subprime mortgage loans by adjusting their performance for differences in borrower characteristics, loan characteristics, and macroeconomic...
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