A Fistful of Dollars.

Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher in...

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Detalles Bibliográficos
Clasificación:Libro Electrónico
Autor principal: Igan, Deniz
Otros Autores: Tressel, Thierry, Mishra, Prachi
Formato: Electrónico eBook
Idioma:Inglés
Publicado: Washington : International Monetary Fund, 2009.
Colección:IMF Working Papers.
Temas:
2008-2009
Global Financial Crisis, 2008-2009.
Lobbying > Law and legislation > United States.
Financial crisesz > United States.
Mortgage loans > Corrupt practices > United States.
Crise financière mondiale, 2008-2009.
Prêts hypothécaires > Pratiques déloyales > États-Unis.
Lobbying > Law and legislation
United States
Acceso en línea:Texto completo
Descripción
Sumario:Using detailed information on lobbying and mortgage lending activities, we find that lenders lobbying more on issues related to mortgage lending (i) had higher loan-to-income ratios, (ii) securitized more intensively, and (iii) had faster growing portfolios. Ex-post, delinquency rates are higher in areas where lobbyist' lending grew faster and they experienced negative abnormal stock returns during key crisis events. The findings are robust to (i) falsification tests using lobbying on issues unrelated to mortgage lending, (ii) a difference-in-difference approach based on state-level laws, and.
Descripción Física:1 online resource (72 pages).
ISBN:9781452726847
1452726841

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