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Macroprudential Policies and Market Competition in Mortgage Lending Markets: Evidence for Chile
Macroprudential Policies and Market Competition in Mortgage Lending Markets: Evidence for Chile
상세정보
- 자료유형
- 학위논문 서양
- 최종처리일시
- 20250211152805
- ISBN
- 9798384026563
- DDC
- 658
- 서명/저자
- Macroprudential Policies and Market Competition in Mortgage Lending Markets: Evidence for Chile
- 발행사항
- [Sl] : Georgetown University, 2024
- 발행사항
- Ann Arbor : ProQuest Dissertations & Theses, 2024
- 형태사항
- 100 p
- 주기사항
- Source: Dissertations Abstracts International, Volume: 86-02, Section: A.
- 주기사항
- Advisor: Rust, John;Miller, Nathan.
- 학위논문주기
- Thesis (Ph.D.)--Georgetown University, 2024.
- 초록/해제
- 요약In this dissertation, I explore the unintended consequences of macroprudential policies, focusing on the impact of loan-loss-provisioning (LLP) on mortgage market competition. This study is anchored in the context of a policy shift in Chile that, in some situations, can drastically increase the provisions for mortgages with a loanto-value (LTV) ratio greater than 80%. Utilizing granular administrative datasets, including banking records, Chile's real estate transaction census, and detailed profiles of a majority of Chilean borrowers, I construct and estimate a structural model of credit demand and supply. Unlike conventional models, the demand component of my model explicitly estimates borrowers' choice sets, challenging the standard assumption that borrowers consider all available products. I find evidence that the LLP policy has a significant effect on average interest rates and dramatically reduces the probability that mortgages with an LTV greater than 80%, from a substantial group of banks, enter most borrowers' choice sets. I also find evidence that the LLP regulation affects the marginal costs of mortgage origination for most products. Through counterfactual analyses, I assess the impact of changes in borrowers' choice sets, borrowers' attributes, and marginal costs on pricing.
- 일반주제명
- Finance
- 키워드
- Mortgages
- 기타저자
- Georgetown University Economics
- 기본자료저록
- Dissertations Abstracts International. 86-02A.
- 전자적 위치 및 접속
- 로그인 후 원문을 볼 수 있습니다.
MARC
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■00520250211152805
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■020 ▼a9798384026563
■035 ▼a(MiAaPQ)AAI31557037
■040 ▼aMiAaPQ▼cMiAaPQ
■0820 ▼a658
■1001 ▼aRoje Larreboure, Pedro.
■24510▼aMacroprudential Policies and Market Competition in Mortgage Lending Markets: Evidence for Chile
■260 ▼a[Sl]▼bGeorgetown University▼c2024
■260 1▼aAnn Arbor▼bProQuest Dissertations & Theses▼c2024
■300 ▼a100 p
■500 ▼aSource: Dissertations Abstracts International, Volume: 86-02, Section: A.
■500 ▼aAdvisor: Rust, John;Miller, Nathan.
■5021 ▼aThesis (Ph.D.)--Georgetown University, 2024.
■520 ▼aIn this dissertation, I explore the unintended consequences of macroprudential policies, focusing on the impact of loan-loss-provisioning (LLP) on mortgage market competition. This study is anchored in the context of a policy shift in Chile that, in some situations, can drastically increase the provisions for mortgages with a loanto-value (LTV) ratio greater than 80%. Utilizing granular administrative datasets, including banking records, Chile's real estate transaction census, and detailed profiles of a majority of Chilean borrowers, I construct and estimate a structural model of credit demand and supply. Unlike conventional models, the demand component of my model explicitly estimates borrowers' choice sets, challenging the standard assumption that borrowers consider all available products. I find evidence that the LLP policy has a significant effect on average interest rates and dramatically reduces the probability that mortgages with an LTV greater than 80%, from a substantial group of banks, enter most borrowers' choice sets. I also find evidence that the LLP regulation affects the marginal costs of mortgage origination for most products. Through counterfactual analyses, I assess the impact of changes in borrowers' choice sets, borrowers' attributes, and marginal costs on pricing.
■590 ▼aSchool code: 0076.
■650 4▼aFinance
■653 ▼aBanking regulation
■653 ▼aDiscrete-choice models
■653 ▼aLoan-loss-provisioning
■653 ▼aLoan-to-value ratio
■653 ▼aMacroprudential policies
■653 ▼aMortgages
■690 ▼a0501
■690 ▼a0770
■690 ▼a0508
■71020▼aGeorgetown University▼bEconomics.
■7730 ▼tDissertations Abstracts International▼g86-02A.
■790 ▼a0076
■791 ▼aPh.D.
■792 ▼a2024
■793 ▼aEnglish
■85640▼uhttp://www.riss.kr/pdu/ddodLink.do?id=T17163881▼nKERIS▼z이 자료의 원문은 한국교육학술정보원에서 제공합니다.
