Market power and risk: Evidence from the US mortgage market

被引：2

作者：

Mueller, Carola ^{[1
]}

Noth, Felix ^{[1
,2
]}

机构：

[1] Halle Inst Econ Res IWH, POB 110361, D-06017 Halle, Germany

[2] Otto von Guericke Univ, Univ Pl 2,POB 4120, D-39114 Magdeburg, Germany

来源：

ECONOMICS LETTERS | 2018年 / 169卷

关键词：

Banking competition; Mortgage crisis; Bank risk; Information; INFORMATION; COMPETITION; BANKING; DISTANCE;

D O I：

10.1016/j.econlet.2018.04.033

中图分类号：

F [经济];

学科分类号：

02 ;

摘要：

We use mortgage loan application data of the Home Mortgage Disclosure Act (HMDA) to shed light on the role of banks' market power on their presumably insufficient risk screening activities in the U.S. mortgage market in the pre-crisis era. We find that banks with higher market power protect their charter value. The effect is stronger for banks that have more information about local markets. (C) 2018 Elsevier B.V. All rights reserved.

引用

页码：72 / 75

页数：4

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