| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w11983 |
| 来源ID | Working Paper 11983 |
| Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates | |
| Elena Loutskina; Philip E. Strahan | |
| 发表日期 | 2006-01-30 |
| 出版年 | 2006 |
| 语种 | 英语 |
| 摘要 | This paper shows that securitization reduces the influence of bank financial condition on loan supply. Low-cost funding and increased balance-sheet liquidity raise bank willingness to approve mortgages that are hard to sell (jumbo mortgages), while having no effect on their willingness to approve mortgages easy to sell (non-jumbos). Thus, the increasing depth of the mortgage secondary market fostered by securitization has reduced the impact of local funding shocks on credit supply. By extension, securitization has weakened the link from bank funding conditions to credit supply in aggregate, thereby mitigating the real effects of monetary policy. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w11983 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/569634 |
| 推荐引用方式 GB/T 7714 | Elena Loutskina,Philip E. Strahan. Securitization and the Declining Impact of Bank Finance on Loan Supply: Evidence from Mortgage Acceptance Rates. 2006. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w11983.pdf（311KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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