How many in negative equity? The role of mortgage contract characteristics
Author
Abstract
Suggested Citation
Download full text from publisher
References listed on IDEAS
- Gary Gorton, 2008.
"The panic of 2007,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 131-262.
- Gary B. Gorton, 2008. "The Panic of 2007," NBER Working Papers 14358, National Bureau of Economic Research, Inc.
- Ferreira, Fernando & Gyourko, Joseph & Tracy, Joseph, 2010.
"Housing busts and household mobility,"
Journal of Urban Economics, Elsevier, vol. 68(1), pages 34-45, July.
- Fernando Ferreira & Joseph Gyourko & Joseph Tracy, 2008. "Housing busts and household mobility," Staff Reports 350, Federal Reserve Bank of New York.
- Fernando Ferreira & Joseph Gyourko & Joseph Tracy, 2008. "Housing Busts and Household Mobility," NBER Working Papers 14310, National Bureau of Economic Research, Inc.
- Foote, Christopher L. & Gerardi, Kristopher & Willen, Paul S., 2008.
"Negative equity and foreclosure: Theory and evidence,"
Journal of Urban Economics, Elsevier, vol. 64(2), pages 234-245, September.
- Christopher L. Foote & Kristopher Gerardi & Paul S. Willen, 2008. "Negative equity and foreclosure: theory and evidence," Public Policy Discussion Paper 08-3, Federal Reserve Bank of Boston.
- Kerry D. Vandell & Thomas Thibodeau, 1985. "Estimation of Mortgage Defaults Using Disaggregate Loan History Data," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 13(3), pages 292-316, September.
- Deng, Yongheng & Quigley, John M. & Van Order, Robert & Mac, Freddie, 1996.
"Mortgage default and low downpayment loans: The costs of public subsidy,"
Regional Science and Urban Economics, Elsevier, vol. 26(3-4), pages 263-285, June.
- Yongheng Deng & John M. Quigley & Robert Van Order, 1995. "Mortgage Default and Low Downpayment Loans: The Costs of Public Subsidy," NBER Working Papers 5184, National Bureau of Economic Research, Inc.
- Gary Gorton, 2008.
"The panic of 2007,"
Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 131-262.
- Gary B. Gorton, 2008. "The Panic of 2007," NBER Working Papers 14358, National Bureau of Economic Research, Inc.
- Gary Gorton, 2008. "The Panic of 2007," Yale School of Management Working Papers amz2372, Yale School of Management.
- Yuliya Demyanyk & Otto van Hemert, 2007. "Understanding the subprime mortgage crisis," Supervisory Policy Analysis Working Papers 2007-05, Federal Reserve Bank of St. Louis.
- Kelly D. Edmiston & Roger Zalneraitis, 2007. "Rising foreclosures in the United States: a perfect storm," Economic Review, Federal Reserve Bank of Kansas City, vol. 92(Q IV), pages 115-145.
- Haughwout, Andrew & Peach, Richard & Tracy, Joseph, 2008.
"Juvenile delinquent mortgages: Bad credit or bad economy?,"
Journal of Urban Economics, Elsevier, vol. 64(2), pages 246-257, September.
- Andrew F. Haughwout & Richard Peach & Joseph Tracy, 2008. "Juvenile delinquent mortgages: bad credit or bad economy?," Staff Reports 341, Federal Reserve Bank of New York.
- Benito, Andrew, 2006. "The down-payment constraint and UK housing market: Does the theory fit the facts?," Journal of Housing Economics, Elsevier, vol. 15(1), pages 1-20, March.
- Luci Ellis, 2010.
"The Housing Meltdown: Why Did It Happen in the United States?,"
International Real Estate Review, Global Social Science Institute, vol. 13(3), pages 351-394.
- Luci Ellis, 2008. "The housing meltdown: Why did it happen in the United States?," BIS Working Papers 259, Bank for International Settlements.
- Diaz-Serrano, Luis, 2005. "Income volatility and residential mortgage delinquency across the EU," Journal of Housing Economics, Elsevier, vol. 14(3), pages 153-177, September.
- Ashcraft, Adam B. & Schuermann, Til, 2008.
"Understanding the Securitization of Subprime Mortgage Credit,"
Foundations and Trends(R) in Finance, now publishers, vol. 2(3), pages 191-309, June.
- Adam B. Ashcraft & Til Schuermann, 2008. "Understanding the securitization of subprime mortgage credit," Staff Reports 318, Federal Reserve Bank of New York.
Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
Cited by:
- Luci Ellis & Mariano Kulish & Stephanie Wallace, 2012. "Property Market Cycles as Paths to Financial Distress," RBA Annual Conference Volume (Discontinued), in: Alexandra Heath & Frank Packer & Callan Windsor (ed.),Property Markets and Financial Stability, Reserve Bank of Australia.
- Michelle Norris & Nessa Winston, 2012. "Young People's Trajectories through Irish Housing Booms and Busts: headship, housing and labour market access among the under 30s since the late 1960s," Open Access publications 10197/4922, Research Repository, University College Dublin.
- Duffy, David, 2012. "Irish Housing: A Role for Loan-to-Value Limits?," Papers EC7, Economic and Social Research Institute (ESRI).
- Kennedy, Gerard & McIndoe-Calder, Tara, 2012.
"The Irish Mortgage Market: Stylised Facts, Negative Equity and Arrears,"
Quarterly Bulletin Articles, Central Bank of Ireland, pages 85-108, February.
- Kennedy, Gerard & McIndoe Calder, Tara, 2011. "The Irish Mortgage Market: Stylised Facts, Negative Equity and Arrears," Research Technical Papers 12/RT/11, Central Bank of Ireland.
- Michelle Norris & Nessa Winston, 2011. "Housing wealth, debt and stress before, during and after the Celtic Tiger," Open Access publications 10197/4923, Research Repository, University College Dublin.
- Duffy, David & O'Hanlon, Niall, 2013. "Negative Equity in the Irish Housing Market: Estimates Using Loan Level Data," Papers WP463, Economic and Social Research Institute (ESRI).
Most related items
These are the items that most often cite the same works as this one and are cited by the same works as this one.- Luci Ellis, 2010.
"The Housing Meltdown: Why Did It Happen in the United States?,"
International Real Estate Review, Global Social Science Institute, vol. 13(3), pages 351-394.
- Luci Ellis, 2008. "The housing meltdown: Why did it happen in the United States?," BIS Working Papers 259, Bank for International Settlements.
- Crowe, Christopher & Dell’Ariccia, Giovanni & Igan, Deniz & Rabanal, Pau, 2013.
"How to deal with real estate booms: Lessons from country experiences,"
Journal of Financial Stability, Elsevier, vol. 9(3), pages 300-319.
- Mr. Pau Rabanal & Mr. Christopher W. Crowe & Mr. Giovanni Dell'Ariccia & Ms. Deniz O Igan, 2011. "How to Deal with Real Estate Booms: Lessons from Country Experiences," IMF Working Papers 2011/091, International Monetary Fund.
- Ashcraft, A. & Goldsmith-Pinkham, P. & Vickery, J., 2010.
"MBS Ratings and the Mortgage Credit Boom,"
Other publications TiSEM
aea4b6fb-eb57-49d4-a347-f, Tilburg University, School of Economics and Management.
- Adam B. Ashcraft & Paul Goldsmith-Pinkham & James Vickery, 2010. "MBS ratings and the mortgage credit boom," Staff Reports 449, Federal Reserve Bank of New York.
- Ashcraft, A. & Goldsmith-Pinkham, P. & Vickery, J., 2010. "MBS Ratings and the Mortgage Credit Boom," Other publications TiSEM 5da00f7a-44c3-4829-903c-d, Tilburg University, School of Economics and Management.
- Ashcraft, A. & Goldsmith-Pinkham, P. & Vickery, J., 2010. "MBS Ratings and the Mortgage Credit Boom," Discussion Paper 2010-89S, Tilburg University, Center for Economic Research.
- Kristopher Gerardi & Kyle F. Herkenhoff & Lee E. Ohanian & Paul S. Willen, 2018.
"Can’t Pay or Won’t Pay? Unemployment, Negative Equity, and Strategic Default,"
The Review of Financial Studies, Society for Financial Studies, vol. 31(3), pages 1098-1131.
- Kristopher Gerardi & Kyle F. Herkenhoff & Lee E. Ohanian & Paul S. Willen, 2013. "Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default," FRB Atlanta Working Paper 2013-04, Federal Reserve Bank of Atlanta.
- Kristopher Gerardi & Kyle F. Herkenhoff & Lee E. Ohanian & Paul S. Willen, 2015. "Can't pay or won't pay?: unemployment, negative equity, and strategic default," Working Papers 15-13, Federal Reserve Bank of Boston.
- Kristopher Gerardi & Kyle F. Herkenhoff & Lee E. Ohanian & Paul S. Willen, 2015. "Can't Pay or Won't Pay? Unemployment, Negative Equity, and Strategic Default," NBER Working Papers 21630, National Bureau of Economic Research, Inc.
- Susan Wachter & Man Cho & Moon Joong Tcha, 2014. "The global financial crisis and housing: a new policy paradigm," Chapters, in: Susan Wachter & Man Cho & Moon Joong Tcha (ed.), The Global Financial Crisis and Housing, chapter 1, pages 3-18, Edward Elgar Publishing.
- Bhardwaj, Geetesh & Sengupta, Rajdeep, 2014. "Subprime cohorts and loan performance," Journal of Banking & Finance, Elsevier, vol. 41(C), pages 236-252.
- Scheicher, Martin & Fender, Ingo, 2009. "The pricing of subprime mortgage risk in good times and bad: evidence from the ABX.HE indices," Working Paper Series 1056, European Central Bank.
- Dwyer, Gerald P. & Tkac, Paula, 2009.
"The financial crisis of 2008 in fixed-income markets,"
Journal of International Money and Finance, Elsevier, vol. 28(8), pages 1293-1316, December.
- Gerald P. Dwyer & Paula A. Tkac, 2009. "The financial crisis of 2008 in fixed income markets," FRB Atlanta Working Paper 2009-20, Federal Reserve Bank of Atlanta.
- Mocetti, Sauro & Viviano, Eliana, 2017.
"Looking behind mortgage delinquencies,"
Journal of Banking & Finance, Elsevier, vol. 75(C), pages 53-63.
- Sauro Mocetti & Eliana Viviano, 2015. "Looking behind mortgage delinquencies," Temi di discussione (Economic working papers) 999, Bank of Italy, Economic Research and International Relations Area.
- Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013.
"The Effects of the Saving and Banking Glut on the U.S. Economy,"
NBER Chapters, in: NBER International Seminar on Macroeconomics 2013, pages 52-67,
National Bureau of Economic Research, Inc.
- Alejandro Justiniano & Giorgio Primiceri & Andrea Tambalotti, 2013. "The Effects of the Saving and Banking Glut on the U.S. Economy," NBER Working Papers 19635, National Bureau of Economic Research, Inc.
- Tambalotti, Andrea & Primiceri, Giorgio & Justiniano, Alejandro, 2013. "The Effects of the Saving and Banking Glut on the U.S. Economy," CEPR Discussion Papers 9729, C.E.P.R. Discussion Papers.
- Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013. "The Effects of the Saving and Banking Glut on the U.S. Economy," Working Paper Series WP-2013-17, Federal Reserve Bank of Chicago.
- Alejandro Justiniano & Giorgio E. Primiceri & Andrea Tambalotti, 2013. "The Effects of the saving and banking glut on the U.S. economy," Staff Reports 648, Federal Reserve Bank of New York.
- Charles W. Calomiris, 2008. "The subprime turmoil: what’s old, what’s new, and what’s next," Proceedings - Economic Policy Symposium - Jackson Hole, Federal Reserve Bank of Kansas City, pages 19-110.
- Geetesh Bhardwaj & Rajdeep Sengupta, 2011.
"Credit scoring and loan default,"
Working Papers
2011-040, Federal Reserve Bank of St. Louis.
- Geetesh Bhardwaj & Rajdeep Sengupta, 2015. "Credit scoring and loan default," Research Working Paper RWP 15-2, Federal Reserve Bank of Kansas City.
- Stijn Claessens, 2010. "The Financial Crisis," Margin: The Journal of Applied Economic Research, National Council of Applied Economic Research, vol. 4(2), pages 177-196, May.
- Ronel Elul, 2015. "Securitization and mortgage default," Working Papers 15-15, Federal Reserve Bank of Philadelphia.
- Khandani, Amir E. & Lo, Andrew W. & Merton, Robert C., 2013.
"Systemic risk and the refinancing ratchet effect,"
Journal of Financial Economics, Elsevier, vol. 108(1), pages 29-45.
- Amir E. Khandani & Andrew W. Lo & Robert C. Merton, 2009. "Systemic Risk and the Refinancing Ratchet Effect," NBER Working Papers 15362, National Bureau of Economic Research, Inc.
- Amir E. Khandani & Andrew W. Lo & Robert C. Merton, 2009. "Systemic Risk and the Refinancing Ratchet Effect," Harvard Business School Working Papers 10-023, Harvard Business School, revised Jul 2010.
- Augustin Landier & David Thesmar, 2011.
"Regulating Systemic Risk through Transparency: Trade-Offs in Making Data Public,"
NBER Chapters, in: Risk Topography: Systemic Risk and Macro Modeling, pages 31-44,
National Bureau of Economic Research, Inc.
- Augustin Landier & David Thesmar, 2011. "Regulating Systemic Risk through Transparency: Tradeoffs in Making Data Public," NBER Working Papers 17664, National Bureau of Economic Research, Inc.
- Freixas, Xavier & Laux, Christian, 2011. "Disclosure, transparency, and market discipline," CFS Working Paper Series 2011/11, Center for Financial Studies (CFS).
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2012.
"The Credit Ratings Game,"
Journal of Finance, American Finance Association, vol. 67(1), pages 85-112, February.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2009. "The credit ratings game," Economics Working Papers 1149, Department of Economics and Business, Universitat Pompeu Fabra.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2010. "The credit ratings game," Economics Working Papers 1221, Department of Economics and Business, Universitat Pompeu Fabra.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2009. "The Credit Ratings Game," NBER Working Papers 14712, National Bureau of Economic Research, Inc.
- Patrick Bolton & Xavier Freixas & Joel Shapiro, 2010. "The Credit Ratings Game," Working Papers 468, Barcelona School of Economics.
- Lin, Che-Chun & Prather, Larry J. & Chu, Ting-Heng & Tsay, Jing-Tang, 2013. "Differential default risk among traditional and non-traditional mortgage products and capital adequacy standards," International Review of Financial Analysis, Elsevier, vol. 27(C), pages 115-122.
- Sergey Chernenko & Samuel G. Hanson & Adi Sunderam, 2014.
"The Rise and Fall of Demand for Securitizations,"
NBER Working Papers
20777, National Bureau of Economic Research, Inc.
- Chernenko, Sergey & Hanson, Samuel Gregory & Sunderam, Adi, 2014. "The Rise and Fall of Demand for Securitizations," Working Paper Series 2014-16, Ohio State University, Charles A. Dice Center for Research in Financial Economics.
More about this item
JEL classification:
- G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
Statistics
Access and download statisticsCorrections
All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:bis:bisqtr:0812h. See general information about how to correct material in RePEc.
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Martin Fessler (email available below). General contact details of provider: https://edirc.repec.org/data/bisssch.html .
Please note that corrections may take a couple of weeks to filter through the various RePEc services.