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来源类型Working Paper
规范类型报告
DOI10.3386/w19550
来源IDWorking Paper 19550
Predatory Lending and the Subprime Crisis
Sumit Agarwal; Gene Amromin; Itzhak Ben-David; Souphala Chomsisengphet; Douglas D. Evanoff
发表日期2013-10-17
出版年2013
语种英语
摘要We measure the effect of an anti-predatory pilot program (Chicago, 2006) on mortgage default rates to test whether predatory lending was a key element in fueling the subprime crisis. Under the program, risky borrowers and/or risky mortgage contracts triggered review sessions by housing counselors who shared their findings with the state regulator. The pilot cut market activity in half, largely through the exit of lenders specializing in risky loans and through decline in the share of subprime borrowers. Our results suggest that predatory lending practices contributed to high mortgage default rates among subprime borrowers, raising them by about a third.
主题Microeconomics ; Households and Firms
URLhttps://www.nber.org/papers/w19550
来源智库National Bureau of Economic Research (United States)
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资源类型智库出版物
条目标识符http://119.78.100.153/handle/2XGU8XDN/577225
推荐引用方式
GB/T 7714
Sumit Agarwal,Gene Amromin,Itzhak Ben-David,et al. Predatory Lending and the Subprime Crisis. 2013.
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