| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w29494 |
| 来源ID | Working Paper 29494 |
| Collateral Damage: The Impact of Shale Gas on Mortgage Lending | |
| Yanyou Chen; James W. Roberts; Christopher D. Timmins; Ashley Vissing | |
| 发表日期 | 2021-11-22 |
| 出版年 | 2021 |
| 语种 | 英语 |
| 摘要 | We analyze mortgage lenders’ behavior with respect to shale gas risk during the period of the U.S. shale gas boom, which coincided with fluctuations in the U.S. housing market and increased scrutiny in the lending industry. Shale gas operations have the potential to place affected houses into technical default such that government sponsored enterprises like Fannie Mae and Freddie Mac are unable to maintain them in their portfolios. We find that lenders changed from being willing to pay $814 on average to avoid one unit of shale risk before the financial distress of 2008 and subsequent increased scrutiny, to $3,137, or 1.6% of profit earned on an average mortgage, afterwards. Our approach provides an alternative to the traditional property value hedonic measurement of the disamenities associated with shale gas development by looking at the decisions of mortgage professionals. |
| 主题 | Financial Economics ; Financial Institutions ; Environmental and Resource Economics ; Environment |
| URL | https://www.nber.org/papers/w29494 |
| 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/587168 |
| 推荐引用方式 GB/T 7714 | Yanyou Chen,James W. Roberts,Christopher D. Timmins,et al. Collateral Damage: The Impact of Shale Gas on Mortgage Lending. 2021. |
| 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 | ||
| w29494.pdf（916KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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