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Brož, Václav; Kočenda, Evžen - 2019

We analyze link between mortgage-related regulatory penalties levied on banks and the level of systemic risk in the U …

Persistent link: https://www.econbiz.de/10012061369

COVID-19 relief programs and compliance with confinement measures

Deiana, Claudio; Geraci, Andrea; Mazzarella, Gianluca; … - 2021

We study the impact of a COVID-19 relief program on compliance with confinement measures in Italy, the early epicenter of the pandemic. We match information on the allocation of funds across Italian municipalities with data tracking citizens' movements drawn from mobile devices and vehicles'...

Persistent link: https://www.econbiz.de/10012427771

Arrears on Mortgages : Differences Across Countries and Their Effect on the Pricing of the Loan

Magri, Silvia - 2009

highest percentage of households in arrears in Italy and Spain. The probability of being late in repaying mortgage is lower … second part of the paper, we assess how much the price of the mortgage is linked to the household specific credit risk, as … measured by its predicted probability of being in arrears on mortgage. This analysis regards only Italian households for which …

Persistent link: https://www.econbiz.de/10013156811

MBS Ratings and the Mortgage Credit Boom

Ashcraft, Adam B. - 2010

We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the … period leading up to the subprime crisis. The fraction of highly rated securities in each deal is decreasing in mortgage … underperformance (high mortgage defaults and losses and large rating downgrades) among deals with observably higher risk mortgages …

Persistent link: https://www.econbiz.de/10013143047

MBS ratings and the mortgage credit boom

Ashcraft, Adam B.; Goldsmith-Pinkham, Paul; Vickery, James - 2010

Persistent link: https://www.econbiz.de/10008657284

Why Did the Mortgage Crisis Lead to a Credit, Illiquidity and Capital Crisis? Key Factors Enabling Contagious-but-Confinable Risk of Mortgage Crisis to Spread to Entire Financial M...

Wind, Serge L. - 2010

A PowerPoint presentation, Mortgage Crisis led to Credit and Illiquidity Crisis, delineates the key factors which the … author believes enabled the contagious-but-confinable risks of the mortgage crisis to spread to the entire financial market … system was a catalyst to the credit and illiquidity crisis. This presentation was designed as a sequel to "The Mortgage …

Persistent link: https://www.econbiz.de/10013147469

Echo Epidemics : Control Fraud Epidemics Generate 'White-Collar Street Crime' Epidemics - Comment on: Mortgage Origination Fraud and the Global Economic Crisis: A Criminological An...

Black, William K. - 2010

“Control fraud” drove the crisis. Control fraud occurs when those that control a seemingly legitimate entity use it as a “weapon” to defraud. In finance, accounting is the “weapon of choice.” Regulators, criminologists, and criminologists have documented the pervasive role of control...

Persistent link: https://www.econbiz.de/10013143482

Rating Performance and Agency Incentives of Structured Finance Transactions

Roesch, Daniel - 2010

The mismatch between credit ratings of structured finance transactions and their true risks has been a source of the Global Financial Crisis which manifested in criticism of models and techniques applied by credit rating agencies (CRA). This paper provides an empirical study which assesses the...

Persistent link: https://www.econbiz.de/10013151688

Can Non-Interest Rate Policies Stabilise Housing Markets? Evidence from a Panel of 57 Economies

Kuttner, Kenneth N. - 2014

Using data from 57 countries spanning more than three decades, this paper investigates the effectiveness of nine non-interest rate policy tools, including macroprudential measures, in stabilising house prices and housing credit. In conventional panel regressions, housing credit growth is...

Persistent link: https://www.econbiz.de/10013058585

Securitization Rating Performance and Agency Incentives

Rösch, Daniel - 2011

This paper provides an empirical study, which assesses the historical performance of credit rating agency (CRA) ratings for securitizations before and during the financial crisis. The paper finds that CRAs do not sufficiently address the systematic risk of the underlying collateral pools as well...

Persistent link: https://www.econbiz.de/10013129036