The DOI matches its Crossref record; 37 of the 37 references it cites were found in a registry or an index.
Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market
Open accessAbstract
This paper links the U.S. subprime mortgage crisis to demand‐side factors that contributed to the rapid expansion of the U.S. mortgage market. We show that denial rates were relatively lower in areas that experienced faster credit demand growth and that lenders in these high‐growth areas attached less weight to applicants’ loan‐to‐income ratios. The results are robust to controlling for supply‐side factors, including house price appreciation, mortgage securitization, and other economic fundamentals, and to several robustness tests controlling for endogeneity. The results are consistent with the notion that a relaxation of lending standards, triggered by an increased demand for loans, contributed to the boom and the ensuing crisis, together with other supply‐side explanations. These findings shed new light on the relationship between credit booms and financial instability.
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Cites
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The Consequences of Mortgage Credit Expansion: Evidence from the U.S. Mortgage Default Crisis*
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The Theory of Bank Risk Taking and Competition Revisited
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Is There a Bubble in the Housing Market?
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Collateral Damage: Effects of the Japanese Bank Crisis on Real Activity in the United States
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Did Securitization Lead to Lax Screening? Evidence from Subprime Loans*
Keys, B. J., Mukherjee, T., Seru, A., & Vig, V. (2010) · Quarterly Journal of Economics · doi:10.1162/qjec.2010.125.1.307 · Cited by 1,092
Assessing High House Prices: Bubbles, Fundamentals and Misperceptions
Himmelberg, C., Mayer, C., & Sinai, T. (2005) · Journal of Economic Perspectives · doi:10.1257/089533005775196769 · Cited by 1,041
Mortgage Lending in Boston: Interpreting HMDA Data
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Cited by
The Consequences of Mortgage Credit Expansion: Evidence from the U.S. Mortgage Default Crisis*
Mian, A., & Sufi, A. (2009) · Quarterly Journal of Economics · doi:10.1162/qjec.2009.124.4.1449 · Cited by 2,087
Predictably Unequal? The Effects of Machine Learning on Credit Markets
Fuster, A., Goldsmith-Pinkham, P. S., Ramadorai, T., & Walther, A. (2017) · doi:10.2139/ssrn.3072038 · Cited by 769
Credit Supply and the Price of Housing
Favara, G., & Imbs, J. (2015) · American Economic Review · doi:10.1257/aer.20121416 · Cited by 621
Predictably Unequal? The Effects of Machine Learning on Credit Markets
FUSTER, A., GOLDSMITH‐PINKHAM, P., RAMADORAI, T., & WALTHER, A. (2022) · The Journal of Finance · doi:10.1111/jofi.13090 · Cited by 872
Financial innovation and endogenous growth
Laeven, L., Levine, R., & Michalopoulos, S. (2015) · Journal of Financial Intermediation · doi:10.1016/j.jfi.2014.04.001 · Cited by 534
Self-citation
Metadata
- Authors
- DELL’ARICCIA, G., IGAN, D., & LAEVEN, L.
- Venue
- Journal of Money, Credit and Banking
- Publisher
- Wiley
- Published
- 2012-03
- Volume
- 44
- Issue
- 2-3
- Pages
- 367-384
- ISSN
- 0022-2879 (ISSN-L)
- 1538-4616
- OpenAlex
- W3122873245
- Cited by
- 731
- References
- 37
- FWCI
- 160.59
- Type
- journal article
- Language
- en
- Open access
- green
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- DELL’ARICCIA, G., IGAN, D., & LAEVEN, L. (2012). Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market. Journal of Money, Credit and Banking. https://doi.org/10.1111/j.1538-4616.2011.00491.x
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Contains information from the Semantic Scholar Academic Graph Datasets, made available under the ODC Attribution License (ODC-BY 1.0).
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