作者：Schlafmann, Kathrin
作者单位：Danish Finance Institute; Copenhagen Business School; Centre for Economic Policy Research - UK
摘要：Using a quantitative theoretical framework this paper analyzes how problems of self-control influence housing and mortgage decisions. The results show that people with stronger problems of self-control are less likely to become homeowners, even though houses serve as commitment for saving. The paper then investigates the welfare effects of regulating mortgage products if people differ in their degree of self-control. Holding house prices fixed, higher down payment requirements and restrictions...
作者：Irani, Rustom M.; Iyer, Rajkamal; Meisenzahl, Ralf R.; Peydro, Jose-Luis
作者单位：University of Illinois System; University of Illinois Urbana-Champaign; Imperial College London; Federal Reserve System - USA; Federal Reserve Bank - Chicago; Center for Economic & Policy Research (CEPR)
摘要：We investigate the connections between bank capital regulation and the prevalence of lightly regulated nonbanks (shadow banks) in the U.S. corporate loan market. For identification, we exploit a supervisory credit register of syndicated loans, loan-time fixed effects, and shocks to capital requirements arising from surprise features of the U.S. implementation of Basel III. We find that less-capitalized banks reduce loan retention, particularly among loans with higher capital requirements and a...
