A Fistful of Dollars : : Lobbying and the Financial Crisis / / Deniz Igan, Thierry Tressel, Prachi Mishra
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| Autore: |
Igan Deniz
|
| Titolo: |
A Fistful of Dollars : : Lobbying and the Financial Crisis / / Deniz Igan, Thierry Tressel, Prachi Mishra
|
| Pubblicazione: | Washington, D.C. : , : International Monetary Fund, , 2009 |
| Descrizione fisica: | 70 p. : ill |
| Soggetto topico: | Global Financial Crisis, 2008-2009 |
| Lobbying - Law and legislation - United States | |
| Financial crises - United States | |
| Mortgage loans - Corrupt practices - United States | |
| Financial Risk Management | |
| Macroeconomics | |
| Public Finance | |
| Industries: Financial Services | |
| Banks | |
| Depository Institutions | |
| Micro Finance Institutions | |
| Mortgages | |
| Financial Crises | |
| National Government Expenditures and Related Policies: General | |
| Personal Income, Wealth, and Their Distributions | |
| Finance | |
| Economic & financial crises & disasters | |
| Public finance & taxation | |
| Loans | |
| Financial crises | |
| Expenditure | |
| Personal income | |
| Expenditures, Public | |
| Income | |
| Soggetto geografico: | United States |
| Altri autori: |
TresselThierry
MishraPrachi
|
| Note generali: | "December 2009." |
| Nota di bibliografia: | Includes bibliographical references. |
| Sommario/riassunto: | 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 (iii) instrumental variables strategies. These results show that lobbying lenders engage in riskier lending. |
| Titolo autorizzato: | A Fistful of Dollars |
| ISBN: | 1-4623-9813-8 |
| 1-282-84474-1 | |
| 9786612844744 | |
| 1-4527-2684-1 | |
| 1-4518-7432-4 | |
| Formato: | Materiale a stampa  |
| Livello bibliografico | Monografia |
| Lingua di pubblicazione: | Inglese |
| Record Nr.: | 9910788220903321 |
| Lo trovi qui: | Univ. Federico II |
| Opac: | Controlla la disponibilità qui |
Serie:
IMF Working Papers; Working Paper ; ; No. 2009/287