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Credit Booms and Lending Standards : Evidence from the Subprime Mortgage Market /
This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying market s...
| Clasificación: | Libro Electrónico |
|---|---|
| Autores principales: | , , |
| Autor Corporativo: | |
| Formato: | Electrónico eBook |
| Idioma: | Inglés |
| Publicado: |
Washington, D.C. :
International Monetary Fund,
2008.
©2008 |
| Colección: | IMF working paper ;
WP/08/106. |
| Temas: | |
| Acceso en línea: | Texto completo |
MARC
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| 100 | 1 | |a Dell'Ariccia, Giovanni, |e author. | |
| 245 | 1 | 0 | |a Credit Booms and Lending Standards : |b Evidence from the Subprime Mortgage Market / |c prepared by Giovanni Dell'Ariccia, Deniz Igan, and Luc Laeven. |
| 260 | |a Washington, D.C. : |b International Monetary Fund, |c 2008. | ||
| 264 | 4 | |c ©2008 | |
| 300 | |a 1 online resource (37 pages) | ||
| 336 | |a text |b txt |2 rdacontent | ||
| 337 | |a computer |b c |2 rdamedia | ||
| 338 | |a online resource |b cr |2 rdacarrier | ||
| 490 | 1 | |a IMF working paper ; |v WP/08/106 | |
| 500 | |a Available in PDF, ePUB, and Mobi formats on the Internet. | ||
| 520 | |a This paper links the current sub-prime mortgage crisis to a decline in lending standards associated with the rapid expansion of this market. We show that lending standards declined more in areas that experienced larger credit booms and house price increases. We also find that the underlying market structure mattered, with entry of new, large lenders triggering declines in lending standards by incumbent banks. Finally, lending standards declined more in areas with higher mortgage securitization rates. The results are consistent with theoretical predictions from recent financial accelerator models based on asymmetric information, and shed light on the relationship between credit booms and financial instability. | ||
| 505 | 0 | |a I. Introduction; II. Related Literature; III. Data and Descriptive Statistics; IV. Empirical Methodology; V. Empirical Findings; A. Effects of Changes in the Pool of Applicant Borrowers; B. Identification and Robustness Issues; C. Sensitivity Analysis: Time and Size Effects; D. Effects of Entry and Changes in Market Structure; E. Alternative Proxies for Lending Standards; F. Effects of Loan Sales; VI. Discussion and Conclusions; References; Tables; 1. Coverage in HMDA; 2. Definitions and Sources of Variables; 3. Summary Statistics; 4. Evolution of Denial Rates. | |
| 505 | 8 | |a 5. Determinants of Denial Decision6. Prediction Errors; 7. Robustness; 8. Time and Size Effects; 9. Market and Boom Size; 10. Market Entry and Denial Rates of Incumbents in Prime and Subprime Markets; 11. Alternative Measures of Lending Standards; 12. Securitization, Lending Standards, and Mortgage Market Expansion; Figures; 1. House Prices and Credit Booms; 2. Subprime Mortgage Boom Across the Nation; 3. House Prices and Credit Boom; 4. Lending Standards and Subprime Credit Boom. | |
| 504 | |a Includes bibliographical references. | ||
| 590 | |a ProQuest Ebook Central |b Ebook Central Academic Complete | ||
| 650 | 0 | |a Credit |z United States. | |
| 650 | 0 | |a Credit |z United States |x Econometric models. | |
| 650 | 0 | |a Moral hazard |z United States |x Econometric models. | |
| 650 | 6 | |a Crédit |z États-Unis. | |
| 650 | 6 | |a Crédit |z États-Unis |x Modèles économétriques. | |
| 650 | 6 | |a Risque moral |z États-Unis |x Modèles économétriques. | |
| 650 | 7 | |a Credit |2 fast | |
| 650 | 7 | |a Credit |x Econometric models |2 fast | |
| 651 | 7 | |a United States |2 fast |1 https://id.oclc.org/worldcat/entity/E39PBJtxgQXMWqmjMjjwXRHgrq | |
| 700 | 1 | |a Laeven, Luc, |e author. | |
| 700 | 1 | |a Igan, Deniz, |e author. | |
| 710 | 2 | |a International Monetary Fund. | |
| 730 | 0 | |a IMF eLibrary. | |
| 758 | |i has work: |a Credit booms and lending standards: evidence from the subprime mortgage market (Text) |1 https://id.oclc.org/worldcat/entity/E39PCGyKwymtYDBPK6pjHWJfmb |4 https://id.oclc.org/worldcat/ontology/hasWork | ||
| 776 | 0 | 8 | |i Print version: |a Dell'Ariccia, Giovanni. |t Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market. |d Washington : International Monetary Fund, ©2008 |z 9781451869675 |
| 830 | 0 | |a IMF working paper ; |v WP/08/106. | |
| 856 | 4 | 0 | |u https://ebookcentral.uam.elogim.com/lib/uam-ebooks/detail.action?docID=1607851 |z Texto completo |
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