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Using bankruptcy to reduce foreclosures : does strip-down of mortgages affect the supply of mortgage credit?

Li, Wenli; Ishani, Tewari; White, Michelle J. - 2014 - Current version: February 2014

We assess the credit market impact of allowing mortgage "strip-down" as a foreclosure-prevention measure, where strip … Chapter 13 bankruptcy. Our identification is provided by a series of U.S. court decisions that introduced strip-down in parts …-term reduction in mortgage interest rates and a small, short-term increase in mortgage approval rates, but no long-term effects, and …

Persistent link: https://www.econbiz.de/10010337629

The long-run effects of individual debt relief

Bruze, Gustaf; Hilsløv, Alexander Kjær; Maibom, Jonas - 2024

Individuals with extensive debt may be granted debt relief in court. We provide a comprehensive evaluation of the Danish debt relief program with data from court records linked to nationwide register data. Using event-study methods and quasi-random assignment of applicants to court trustees with...

Persistent link: https://www.econbiz.de/10014551869

Optimal risk-sharing in mortgage contracts : the effects of potential prepayment and default

Brueckner, Jan K.; Lee, Kangoh - 2014

Much of the literature on the economics of mortgage markets has studied the FRM-ARM choice made by individual borrowers … of optimal risk-sharing in mortgage contracts. But since only a small literature has studied this question, more research …'s (1986a) model, using it to characterize optimal contracts in the absence of mortgage termination, and then exploring how …

Persistent link: https://www.econbiz.de/10010412302

Default costs and repayment of underwater mortgages

Brueckner, Jan K.; Conklin, James N.; Coulson, N. Edward; … - 2023

This paper explores an overlooked phenomenon in mortgage markets: repayment of underwater mortgages. Since repayment in …, which includes credit impairment and possible guilt, repayment of an underwater mortgage is a wealth-maximizing strategy …

Persistent link: https://www.econbiz.de/10014427442

Insurers monitor shocks to collateral : micro evidence from mortgage-backed securities

Fetzer, Thiemo; Guin, Benjamin; Netto, Felipe; Saidi, Farzad - 2024

to holders of commercial mortgage-backed securities (CMBS). Using detailed micro data, we show that cash flow shocks … during the COVID-19 pandemic predict CRE mortgage delinquency, especially those stemming from lease expiration of offices …

Persistent link: https://www.econbiz.de/10015061135

The economics of copyright in the digital age

Peukert, Christian; Windisch, Margaritha - 2023

Intellectual property rights are fundamental to how economies organize innovation and steer the diffusion of knowledge. Copyright law, in particular, has developed constantly to keep up with emerging technologies and the interests of creators, consumers, and intermediaries of the different...

Persistent link: https://www.econbiz.de/10014383295

The effect of intellectual property rights on domestic innovation in the pharmaceutical sector

Gamba, Simona - 2016

This paper analyses the causal impact of Intellectual Property Rights (IPR) on pharmaceutical innovation in a panel of 74 countries. The identification strategy exploits the different timing across countries of two sets of IPR reforms. Domestic innovation is measured as citation-weighted...

Persistent link: https://www.econbiz.de/10011509446

Do inheritance rules affect voter turnout? : evidence from an Alpine region

Bonoldi, Andrea; Dalle Nogare, Chiara; Mosler, Martin; … - 2020

We examine the relationship between inheritance rules and voter turnout. Inheritance rules are measured by entailed farms in South Tyrol: land properties whose inheritance is regulated by a law similar to the right of primogeniture. Using data for municipalities between 1998 and 2010, we show...

Persistent link: https://www.econbiz.de/10012195987

Linguistic metrics for patent disclosure: evidence from university versus corporate patents

Kong, Nancy; Dulleck, Uwe; Jaffe, Adam B.; Sun, Shupeng; … - 2020

Encouraging inventors to disclose new inventions is an important economic justification for the patent system, yet the technical information contained in patent applications is often inadequate and unclear. This paper proposes a novel approach to measure disclosure in patent applications using...

Persistent link: https://www.econbiz.de/10012291859

Strategic behavior and AI training data

Peukert, Christian; Abeillon, Florian; Haese, Jérémie; … - 2024

Human-created works represent critical data inputs to artificial intelligence (AI). Strategic behaviour can play a major role for AI training datasets, be it in limiting access to existing works or in deciding which types of new works to create or whether to create new works at all. We examine...

Persistent link: https://www.econbiz.de/10014528223