Results 31 to 40 of about 75,127 (42)
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Whatever it Takes? The Impact of Conditional Policy Promises
Social Science Research Network, 2023At the announcement of a new policy, agents form a view of state-contingent policy actions and impact. We develop a method to estimate this state-contingent perception and implement it for many asset-purchase interventions worldwide.
Valentin Haddad +2 more
semanticscholar +1 more source
Why Did Bank Stocks Crash during COVID-19?
Social Science Research Network, 2021A two-sided “credit-line channel”—relating to drawdowns and repayments—explains the severe drop and partial subsequent recovery in bank stock prices during the COVID-19 pandemic.
V. Acharya, R. Engle, Sascha Steffen
semanticscholar +1 more source
Institutional Corporate Bond Pricing
The Review of financial studiesWe propose an equilibrium corporate bond pricing model that accommodates the heterogeneity in institutional investors’ preferences and mandates in an empirically tractable way.
Lorenzo Bretscher +3 more
semanticscholar +1 more source
Nobel Lecture: Banking, Credit, and Economic Fluctuations
The American Economic Review, 2023Credit markets, including the market for bank loans, are characterized by imperfect and asymmetric information. These informational frictions can interact with other economic forces to produce periods of credit-market stress, in which intermediation is ...
Ben S. Bernanke
semanticscholar +1 more source
The American Economic Review, 2020
We exploit variation in mortgage modifications to disentangle the impact of reducing long-term obligations with no change in short-term payments (“wealth”), and reducing short-term payments with no change in long-term obligations (“liquidity”).
Peter Ganong, P. Noel
semanticscholar +1 more source
We exploit variation in mortgage modifications to disentangle the impact of reducing long-term obligations with no change in short-term payments (“wealth”), and reducing short-term payments with no change in long-term obligations (“liquidity”).
Peter Ganong, P. Noel
semanticscholar +1 more source
American Economic Journal: Macroeconomics
I explore the business-cycle implications of household inattention to savings product choices. In a model with heterogeneous banks, savers pay more attention to their bank choice when the marginal utility of income is high.
A. Macaulay
semanticscholar +1 more source
I explore the business-cycle implications of household inattention to savings product choices. In a model with heterogeneous banks, savers pay more attention to their bank choice when the marginal utility of income is high.
A. Macaulay
semanticscholar +1 more source
Social Science Research Network
We quantify the cost of pledging collateral for small businesses by exploiting a regulatory quirk of the SBA disaster lending program in which firms are exempt from posting collateral if their loan size is below a threshold.
Guangqian Pan, Zheyao Pan, Kairong Xiao
semanticscholar +1 more source
We quantify the cost of pledging collateral for small businesses by exploiting a regulatory quirk of the SBA disaster lending program in which firms are exempt from posting collateral if their loan size is below a threshold.
Guangqian Pan, Zheyao Pan, Kairong Xiao
semanticscholar +1 more source
The Effects of Macroeconomic Shocks: Household Financial Distress Matters
The Review of financial studiesWhen a macroeconomic shock arrives, variation in household balance sheet health (captured by the presence of financial distress, or “FD”) leads to differential access to credit and hence a distribution in consumption responses.
José Mustre-del-Ŕıo +3 more
semanticscholar +1 more source
Six Randomized Evaluations of Microcredit: Introduction and Further Steps †
, 2015A. Banerjee +2 more
semanticscholar +1 more source
How Safe are Money Market Funds
, 2013Marcin T. Kacperczyk, P. Schnabl
semanticscholar +1 more source