earticle

논문검색

Housing Price Risks and Lending Behavior of Banks before and after the 2008 Financial Crisis

초록

영어

As a large volatility in asset values can negatively affect collateral values and increase the likelihood of defaults by loan borrowers, facing high price risks in real-estate markets, banks need to lower risk exposures and reduce loans. However, our analysis of US commercial banks shows that banks in Metropolitan Statistical Areas (MSAs) with higher housing price risks make more real estate loans, especially to construction loans before the 2008 financial crisis. After the crisis, banks have changed such lending behaviors and made less loans. While increasing their loans in markets with high risks, banks do not prepare for more reserves for loan losses in the pre-crisis period. Our results suggest that banks with higher housing price risks have taken excessive risks before the 2008 crisis.

목차

Abstract
1. Introduction
2. Literature on Housing prices, Price Risks and Bank Lending
3. Data and Methodology
3.1. Data Sources
3.2. Methodology and Variables
4. Empirical Results
4.1. The Trends of Key Variables Across Time
4.2. Multivariate Regression
4.3. Robustness Test Results
4.4. Summary and Discussion
5. Conclusions
References

저자정보

  • Sung Wook Joh Seoul National University
  • Seongjun Jeong Seoul National University

참고문헌

자료제공 : 네이버학술정보

    함께 이용한 논문

      ※ 기관로그인 시 무료 이용이 가능합니다.

      • 8,400원

      0개의 논문이 장바구니에 담겼습니다.