Showing 1 - 10 of 17
Persistent link: https://www.econbiz.de/10009685865
Persistent link: https://www.econbiz.de/10009549284
Keys, Mukherjee, Seru, and Vig (2010) argue that the evidence presented in Bubb and Kaufman (2009) is based on an inappropriate pooling of loans sold to private-label securitizers with loans sold to the government sponsored enterprises (GSEs). In this paper we investigate the issues raised by...
Persistent link: https://www.econbiz.de/10013121014
Keys, Mukherjee, and Vig (2010a) argue that the evidence presented in Bubb and Kaufman (2009) is based on an inappropriate pooling of loans sold to private-label securitizers with loans sold to the government sponsored enterprises (GSEs). In this paper we investigate the issues raised by the...
Persistent link: https://www.econbiz.de/10009380400
Mortgage originators use credit score cutoff rules to determine how carefully to screen loan applicants. Recent research has hypothesized that these cutoff rules result from a securitization rule of thumb. Under this theory, an observed jump in defaults at the cutoff would imply that...
Persistent link: https://www.econbiz.de/10009298472
Persistent link: https://www.econbiz.de/10010437689
Credit score cutoff rules result in very similar potential borrowers being treated differently by mortgage lenders. Recent research has used variation induced by these rules to investigate the connection between securitization and lender moral hazard in the recent financial crisis. However, the...
Persistent link: https://www.econbiz.de/10003941871
Persistent link: https://www.econbiz.de/10011949087
The preference of behavioral law and economics (BLE) for regulatory approaches that preserve “freedom of choice” has led to incomplete policy analysis and inefficient policies. BLE has been broadly regarded as among the most promising new developments in public policymaking theory and...
Persistent link: https://www.econbiz.de/10013062758
In this paper we show how ownership of the firm by its customers, as well as nonprofit status, can prevent the firm from exploiting consumer biases. By eliminating an outside residual claimant with control over the firm, these alternatives to investor ownership reduce the incentive of the firm...
Persistent link: https://www.econbiz.de/10013092273