Search Results

Showing results 1 to 10 of approximately 99.

(refine search)
Author:Nakamura, Leonard I. 

Working Paper
Credit cycle and adverse selection effects in consumer credit markets -- evidence from the HELOC market

The authors empirically study how the underlying riskiness of the pool of home equity line of credit originations is affected over the credit cycle. Drawing from the largest existing database of U.S. home equity lines of credit, they use county-level aggregates of these loans to estimate panel regressions on the characteristics of the borrowers and their loans, and competing risk hazard regressions on the outcomes of the loans. The authors show that when the expected unemployment risk of households increases, riskier households tend to borrow more. As a consequence, the pool of households ...
Working Papers , Paper 11-13

Working Paper
Recent research in commercial banking: information and lending

Working Papers , Paper 93-24

Working Paper
Should defaults be forgotten? Evidence from variation in removal of negative consumer credit information

Practically all industrialized economies restrict the length of time that credit bureaus can retain borrowers? negative credit information. There is, however, a large variation in the permitted retention times across countries. By exploiting a quasi-experimental variation in this retention time, we investigate what happens when negative information is deleted earlier from credit files. We find that the loss of information led banks to tighten their lending standards significantly as the expected retention time was diminished from on average three-and-a-half to three years exactly. ...
Working Papers , Paper 14-21

Working Paper
National income accounts.

This article presents a brief overview of the national income accounts. It summarizes the main parts of accounts and situates them within the efforts of economists to quantify economic activity and economic well-being. The author argues that these statistics are necessarily provisional and imperfect but nevertheless extremely useful. Some current directions for economic research seeking to extend the accounts are also discussed.
Working Papers , Paper 06-11

Working Paper
Reforming deposit insurance when banks conduct loan workouts and runs are possible

Working Papers , Paper 90-30

Working Paper
Durable financial regulation: monitoring financial instruments as a counterpart to regulating financial institutions

Superseded by Working Paper 13-2 ; This paper sets forth a discussion framework for the information requirements of systemic financial regulation. It specifically proposes a large macro-micro database for the U.S. based on an extended version of the Flow of Funds. The author argues that such a database would have been of material value to U.S. regulators in ameliorating the recent financial crisis and will be of aid in understanding the potential vulnerabilities of an innovative financial system in the future. The author also argues that the data should -- under strict confidentiality ...
Working Papers , Paper 10-22

Journal Article
Lessons on lending and borrowing in hard times

Business Review , Issue Jul , Pages 13-21

Journal Article
Underestimating advertising: innovation and unpriced entertainment

Leonard Nakamura states that despite consumers? lack of respect for advertising, it nonetheless plays a significant role in the economy. For one thing, it helps consumers find out about new products, and new products have been rising in economic importance. It also plays a role in subsidizing broadcast entertainment and news programs. Ultimately, Nakamura shows that although advertising contributes to consumer welfare, its contribution is missing from our measures of output.
Business Review , Issue Q4 , Pages 21-29

Working Paper
Is U.S. economic performance really that bad?

Working Papers , Paper 95-21

Working Paper
The impact of the home valuation code of conduct on appraisal and mortgage outcomes

Supersedes Working Paper 14-23. The accuracy of appraisals came into scrutiny during the housing crisis, and a set of policies and regulations was adopted to address the conflict-of-interest issues in the appraisal practices. In response to an investigation by the New York State Attorney General?s office, the Home Valuation Code of Conduct (HVCC) was agreed to by Fannie Mae, Freddie Mac, and the Federal Housing Finance Agency. Using unique data sets that contain both approved and nonapproved mortgage applications, this study provides an empirical examination of the impact of the HVCC on ...
Working Papers , Paper 15-28


FILTER BY Content Type


FILTER BY Jel Classification

G21 8 items

C82 6 items

G28 6 items

O3 6 items

O4 5 items

D81 4 items

show more (34)

FILTER BY Keywords

Bank loans 13 items

Internet 8 items

Mortgages 8 items

Housing 7 items

Mortgage 7 items

Regulation 7 items

show more (143)