کد مقاله | کد نشریه | سال انتشار | مقاله انگلیسی | نسخه تمام متن |
---|---|---|---|---|
10437649 | 912321 | 2014 | 40 صفحه PDF | دانلود رایگان |
عنوان انگلیسی مقاله ISI
The dark side of sunshine: Regulatory oversight and status quo bias
ترجمه فارسی عنوان
قسمت تاریک آفتاب: نظارت بر نظارت و تعصب وضعیت
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موضوعات مرتبط
علوم انسانی و اجتماعی
اقتصاد، اقتصادسنجی و امور مالی
اقتصاد و اقتصادسنجی
چکیده انگلیسی
As the mortgage foreclosure crisis accelerated in the U.S. in the late 2000s, state-level policymakers implemented measures designed to protect consumers and stem the tide of foreclosures. One form of policy was simply to require lenders to report on foreclosure prevention activities. Such policies represented a shift from the status quo for mortgage loan servicing firms operating under incomplete information-doing nothing with non-paying loans while waiting for more information to be revealed-to either foreclosing on the borrower or offering the borrower a modification of loan terms. Using a difference-in-difference-in-differences empirical strategy, we exploit one policy implemented in Maryland for a subset of mortgage servicers and find evidence that firms perform more loan modifications, as well as file more foreclosures. Increasing foreclosure filings was contrary to the intent of the policy, suggesting that policymakers should be aware of how firms exhibit systematic biases, much like individuals.
ناشر
Database: Elsevier - ScienceDirect (ساینس دایرکت)
Journal: Journal of Economic Behavior & Organization - Volume 107, Part B, November 2014, Pages 470-486
Journal: Journal of Economic Behavior & Organization - Volume 107, Part B, November 2014, Pages 470-486
نویسندگان
J. Michael Collins, Carly Urban,