Credit Supply and the Price of Housing

By Giovanni Favara, Jean Imbs. 2015

569 citations recorded by the source corpus.

Subfields: Economics and Econometrics, Finance

View Paper: https://www.semanticscholar.org/paper/b86fe5923cbf4d83d8815dde30d7e8a12299aef4

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Citations in the corpus

Do Managers Overreact to Salient Risks? Evidence from Hurricane Strikes (2017, methodology): “We follow Jorda (2005) and Favara and Imbs (2015) and proceed sequentially.”
The Anatomy of the Transmission of Macroprudential Policies (2020, unknown): “contributed to the rapid appreciation of house prices (Favara and Imbs, 2015; Mian and Sufi, 2009, 2019; Adelino et al., 2015; Di Maggio and Kermani, 2017).”
Credit-Induced Boom and Bust (2017, unknown): “Favara and Imbs (2010) employs the the passage of the Interstate Banking and Branching Effi ciency Act (IBBEA) in 1994 to show that the deregulation triggered an increase in the demand for housing, that is, house prices rose because the supply of credit increased in deregulating states.”
The Mortgage Credit Channel of Macroeconomic Transmission (2016, unknown): “These works include Adelino, Schoar, and Severino (2015a), Adelino, Schoar, and Severino (2015b), Adelino, Schoar, and Severino (2015c), Aladangady (2014), Di Maggio and Kermani (2015), Favara and Imbs (2015), Mian and Sufi (2008), Mian and Sufi (2014).”
How Does Credit Supply Expansion Affect the Real Economy? The Productive Capacity and Household Demand Channels (2020, unknown): “They then (32)Favara and Imbs (2015) and Landier et al. (2017) examine the effect of deregulation on house price growth and co-movement in house prices, respectively.”
Inequality, Leverage and Crises: The Case of Endogenous Default (2013, unknown): “Several recent empirical papers (Mian and Sufi (2009), Favara and Imbs (2010), Ng (2013), Adelino, Schoar, and Severino (2012)) argue that causation ran from credit to house prices, specifically that credit supply shocks caused house prices to increase above fundamental values.”
Real House Prices in OECD Countries: The Role of Demand Shocks and Structural and Policy Factors (2010, background): “While many country-specific studies have emphasised the role of mortgage market deregulation in boosting real house prices (see Favara and Imbs, 2009), there is considerably less formal analysis of this issue in the cross-country setting. This partly reflects data limitations since many cross-countr”
Housing Wealth Effects: The Long View (2018, unknown): “How important are housing wealth effects for business cycle dynamics? Recent work argues that housing wealth effects – the sensitivity of economic activity to house prices – played an important role in both the boom of the early 2000s and the recession that followed (Mian and Sufi, 2011; Mian, Rao, ”
The Housing Boom and Bust: Model Meets Evidence (2017, unknown): “For example, Favara and Imbs (2015) study the effect of the passage of the Interstate Banking and Branching Efficiency Act (IBBEA) of 1994. Using balance sheet data, they show that these branching deregulations enabled banks to diversify deposit collection across locations, and to lower the cost of ”
The Price Responsiveness of Housing Supply in OECD Countries (2013, result): “This finding is consistent with recent empirical evidence for the United States, which shows that the relaxation of interstate banking regulations resulted in larger increases in house prices in counties with less elastic housing supply (Favara and Imbs, 2009).”
Collateral Constraints and Macroeconomic Asymmetries (2013, unknown): “We allow for credit shocks because they can proxy for a variety of factors, not necessarily related to movements in the price of collateral, that affect the ability of agents to borrow and spend, as in work by Jermann and Quadrini (2012), Guerrieri and Lorenzoni (2011) and Favara and Imbs (2010). Be”
Credit Supply and the Rise in College Tuition: Evidence from the Expansion in Federal Student Aid Programs (2018, background): “housing boom of 2002-6 and the ensuing bust can be explained by increased credit to subprime borrowers (see, for example, Mian and Sufi, 2009; Adelino, Schoar, and Severino, 2012; Favara and Imbs, 2015).”
Difference-in-Differences Estimators of Intertemporal Treatment Effects (2020, unknown): “Favara and Imbs (2015) also study the effect of banking deregulation on other measures of banks’ credit activities (number of loans originated,”