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Mortgage Broker Regulations That Matter: Analyzing Earnings, Employment, and Outcomes for Consumers

In: Studies of Labor Market Intermediation

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  • Morris M. Kleiner
  • Richard M. Todd

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  • Morris M. Kleiner & Richard M. Todd, 2009. "Mortgage Broker Regulations That Matter: Analyzing Earnings, Employment, and Outcomes for Consumers," NBER Chapters, in: Studies of Labor Market Intermediation, pages 183-231, National Bureau of Economic Research, Inc.
    • Handle: RePEc:nbr:nberch:3589
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    References listed on IDEAS

    as
    1. Morris M. Kleiner & Alan B. Krueger, 2010. "The Prevalence and Effects of Occupational Licensing," British Journal of Industrial Relations, London School of Economics, vol. 48(4), pages 676-687, December.
    2. repec:pri:cepsud:141rosen is not listed on IDEAS
    3. Morris M. Kleiner & Alan B. Krueger, 2008. "The Prevalence and Effects of Occupational Licensing," Working Papers 1069, Princeton University, Department of Economics, Industrial Relations Section..
    4. Randall S. Kroszner, 2007. "Legislative proposals on reforming mortgage practices: testimony before the Committee on Financial Services, U.S. House of Representatives, October 24, 2007," Speech 339, Board of Governors of the Federal Reserve System (U.S.).
    5. Morris M. Kleiner & Alan B. Krueger, 2010. "The Prevalence and Effects of Occupational Licensing," British Journal of Industrial Relations, London School of Economics, vol. 48(4), pages 676-687, December.
    6. Roger Feldman & James W. Begun, 1978. "The Effects of Advertising Lessons from Optometry," NBER Chapters, in: The Economics of Physician and Patient Behavior, pages 247-262, National Bureau of Economic Research, Inc.
    7. David H. Autor, 2003. "Outsourcing at Will: The Contribution of Unjust Dismissal Doctrine to the Growth of Employment Outsourcing," Journal of Labor Economics, University of Chicago Press, vol. 21(1), pages 1-42, January.
    8. Kristopher Gerardi & Harvey S. Rosen & Paul S. Willen, 2006. "Do households benefit from financial deregulation and innovation?: the case of the mortgage market," Public Policy Discussion Paper 06-6, Federal Reserve Bank of Boston.
    9. Walter Garcia-Fontes & Hugo Hopenhayn, 2000. "Entry restrictions and the determination of quality," Spanish Economic Review, Springer;Spanish Economic Association, vol. 2(2), pages 105-127.
    10. Kleiner, Morris M & Kudrle, Robert T, 2000. "Does Regulation Affect Economic Outcomes? The Case of Dentistry," Journal of Law and Economics, University of Chicago Press, vol. 43(2), pages 547-582, October.
    11. Cynthia J. Pahl, 2007. "A compilation of state mortgage broker laws and regulations, 1996-2006," Community Affairs Report 2007-2, Federal Reserve Bank of Minneapolis.
    12. Kandel, Eugene & Lazear, Edward P, 1992. "Peer Pressure and Partnerships," Journal of Political Economy, University of Chicago Press, vol. 100(4), pages 801-817, August.
    13. Law, Marc T. & Kim, Sukkoo, 2005. "Specialization and Regulation: The Rise of Professionals and the Emergence of Occupational Licensing Regulation," The Journal of Economic History, Cambridge University Press, vol. 65(3), pages 723-756, September.
    14. William P. Rogerson, 1983. "Reputation and Product Quality," Bell Journal of Economics, The RAND Corporation, vol. 14(2), pages 508-516, Autumn.
    15. Simon Rottenberg, 1980. "Occupational Licensure and Regulation," Books, American Enterprise Institute, number 968900, September.
    16. repec:pri:cepsud:174krueger is not listed on IDEAS
    17. William P. Alexander & Scott D. Grimshaw & Grant R. McQueen & Barrett A. Slade, 2002. "Some Loans Are More Equal than Others: Third–Party Originations and Defaults in the Subprime Mortgage Industry," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 30(4), pages 667-697.
    18. George A. Akerlof, 1970. "The Market for "Lemons": Quality Uncertainty and the Market Mechanism," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 84(3), pages 488-500.
    19. Li, Yiting, 1998. "Middlemen and private information," Journal of Monetary Economics, Elsevier, vol. 42(1), pages 131-159, June.
    20. Yavas, Abdullah, 1994. "Middlemen in Bilateral Search Markets," Journal of Labor Economics, University of Chicago Press, vol. 12(3), pages 406-429, July.
    21. Kristopher S. Gerardi & Harvey S. Rosen & Paul S. Willen, 2006. "Do households benefit from financial deregulation and innovation?: the case of the mortgage market," Public Policy Discussion Paper 06-6, Federal Reserve Bank of Boston.
    22. Thomas J. Holmes, 1998. "The Effect of State Policies on the Location of Manufacturing: Evidence from State Borders," Journal of Political Economy, University of Chicago Press, vol. 106(4), pages 667-705, August.
    23. Carl Shapiro, 1986. "Investment, Moral Hazard, and Occupational Licensing," The Review of Economic Studies, Review of Economic Studies Ltd, vol. 53(5), pages 843-862.
    24. Shepard, Lawrence, 1978. "Licensing Restrictions and the Cost of Dental Care," Journal of Law and Economics, University of Chicago Press, vol. 21(1), pages 187-201, April.
    25. Bostic, Raphael W. & Engel, Kathleen C. & McCoy, Patricia A. & Pennington-Cross, Anthony & Wachter, Susan M., 2008. "State and local anti-predatory lending laws: The effect of legal enforcement mechanisms," Journal of Economics and Business, Elsevier, vol. 60(1-2), pages 47-66.
    26. Robert B. Avery & Kenneth P. Brevoort & Glenn B. Canner, 2006. "Higher-priced home lending and the 2005 HMDA data," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 92(Sep), pages 123-166, September.
    Full references (including those not matched with items on IDEAS)

    Citations

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    Cited by:

    1. J. Mark Ramseyer & Eric Rasmusen, 2013. "Lowering the Bar to Raise the Bar: Licensing Difficulty and Attorney Quality in Japan," Working Papers 2013-12, Indiana University, Kelley School of Business, Department of Business Economics and Public Policy.
    2. Francisca Richter, 2008. "An analysis of foreclosure rate differentials in soft markets," Working Papers (Old Series) 0811, Federal Reserve Bank of Cleveland.
    3. Shi, Lan & Zhang, Yan, 2018. "The effect of mortgage broker licensing under the originate-to-distribute model: Evidence from the U.S. mortgage market," Journal of Financial Intermediation, Elsevier, vol. 35(PA), pages 70-85.
    4. Morris M. Kleiner & Allison Marier & Kyoung Won Park & Coady Wing, 2016. "Relaxing Occupational Licensing Requirements: Analyzing Wages and Prices for a Medical Service," Journal of Law and Economics, University of Chicago Press, vol. 59(2), pages 261-291.
    5. Carlo Gianelle, 2011. "Temporary employment agencies make the world smaller:Evidence from labour mobility networks," Department of Economics University of Siena 618, Department of Economics, University of Siena.
    6. Michael LaCour-Little, 2009. "The Pricing of Mortgages by Brokers: An Agency Problem?," Journal of Real Estate Research, American Real Estate Society, vol. 31(2), pages 235-264.
    7. Carlo Gianelle, 2014. "Labor market intermediaries make the world smaller," Journal of Evolutionary Economics, Springer, vol. 24(5), pages 951-981, November.
    8. repec:ces:ifodic:v:8:y:2010:i:3:p:14566925 is not listed on IDEAS
    9. Morris M. Kleiner & Charles Wheelan, 2010. "Occupational Licensing Matters: Wages, Quality and Social Costs," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(03), pages 29-33, October.
    10. John R. Bowblis & Austin C. Smith, 2021. "Occupational Licensing of Social Services and Nursing Home Quality: A Regression Discontinuity Approach," ILR Review, Cornell University, ILR School, vol. 74(1), pages 199-223, January.
    11. Morris M. Kleiner & Charles Wheelan, 2010. "Occupational Licensing Matters: Wages, Quality and Social Costs," ifo DICE Report, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 8(3), pages 29-33, October.
    12. Yoon Sun Hur & Morris M. Kleiner & Yingchun Wang, 2018. "The Influence of Licensing Engineers on Their Labor Market," NBER Chapters, in: US Engineering in a Global Economy, pages 217-241, National Bureau of Economic Research, Inc.
    13. Ginger Zhe Jin & Zhentong Lu & Xiaolu Zhou & Chunxiao Li, 2020. "The Effects of Government Licensing on E-commerce: Evidence from Alibaba," NBER Working Papers 27884, National Bureau of Economic Research, Inc.
    14. Robbie Brydon & Ben Dachis, 2013. "Access Denied: The Effect of Apprenticeship Restrictions in Skilled Trades," C.D. Howe Institute Commentary, C.D. Howe Institute, issue 380, May.
    15. Brian Meehan & E. Frank Stephenson, 2020. "Reducing a Barrier to Entry: The 120/150 CPA Licensing Rule," Journal of Labor Research, Springer, vol. 41(4), pages 382-402, December.

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    More about this item

    JEL classification:

    • H77 - Public Economics - - State and Local Government; Intergovernmental Relations - - - Intergovernmental Relations; Federalism
    • J18 - Labor and Demographic Economics - - Demographic Economics - - - Public Policy
    • J4 - Labor and Demographic Economics - - Particular Labor Markets
    • J44 - Labor and Demographic Economics - - Particular Labor Markets - - - Professional Labor Markets and Occupations
    • J8 - Labor and Demographic Economics - - Labor Standards
    • K2 - Law and Economics - - Regulation and Business Law
    • K31 - Law and Economics - - Other Substantive Areas of Law - - - Labor Law
    • L22 - Industrial Organization - - Firm Objectives, Organization, and Behavior - - - Firm Organization and Market Structure
    • L38 - Industrial Organization - - Nonprofit Organizations and Public Enterprise - - - Public Policy
    • L51 - Industrial Organization - - Regulation and Industrial Policy - - - Economics of Regulation
    • L84 - Industrial Organization - - Industry Studies: Services - - - Personal, Professional, and Business Services

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