scholarly journals Liquidity Risk and the Credit Crunch of 2007–2008: Evidence from Micro-Level Data on Mortgage Loan Applications

2016 ◽  
Vol 51 (6) ◽  
pp. 1795-1822 ◽  
Author(s):  
Adonis Antoniades
Keyword(s):  
Important Determinant ◽  
Empirical Studies ◽  
Liquidity Risk ◽  
Mortgage Market ◽  
Mortgage Loan ◽  
Asset Risk ◽  
Level Data ◽  
Micro Level ◽  
Credit Demand ◽  
Loan Officers

Recent empirical studies have shown that during the financial crisis of 2007–2008, banks that were more heavily exposed to liquidity risk contracted their supply of credit more sharply. I contribute to the identification of this effect by relying on the use of micro-level data on U.S. mortgage loan applications, which allows me to identify liquidity risk as an important determinant of the contraction of credit in the mortgage market but as separate from the precipitous fall in credit demand, disruptions in the securitization and subprime markets, shifts in asset risk, and changing risk aversion among loan officers.

scholarly journals Effects of Macroprudential Policy

2020 ◽  
Vol 20 (67) ◽  
Author(s):  
Juliana Araujo ◽  
Manasa Patnam ◽  
Adina Popescu ◽  
Fabian Valencia ◽  
Weijia Yao
Keyword(s):  
House Prices ◽  
Meta Analysis ◽  
Statistical Significance ◽  
Empirical Studies ◽  
Negative Effects ◽  
Macroprudential Policy ◽  
Level Data ◽  
Wide Range ◽  
Micro Level ◽  
Near Term

This paper builds a novel database on the effects of macroprudential policy drawing from 58 empirical studies, comprising over 6,000 results on a wide range of instruments and outcome variables. It encompasses information on statistical significance, standardized magnitudes, and other characteristics of the estimates. Using meta-analysis techniques, the paper estimates average effects to find i) statistically significant effects on credit, but with considerable heterogeneity across instruments; ii) weaker and more imprecise effects on house prices; iii) quantitatively stronger effects in emerging markets and among studies using micro-level data; and iii) statistically significant evidence of leakages and spillovers. Other findings include relatively stronger impacts for tightening than loosening actions and negative effects on economic activity in the near term.

scholarly journals Review of Associations between Built Environment Characteristics and Severe Acute Respiratory Syndrome Coronavirus 2 Infection Risk

2021 ◽  
Vol 18 (14) ◽  
pp. 7561
Author(s):  
Jingjing Wang ◽  
Xueying Wu ◽  
Ruoyu Wang ◽  
Dongsheng He ◽  
Dongying Li ◽  
...  
Keyword(s):  
Severe Acute Respiratory Syndrome ◽  
Built Environment ◽  
Longitudinal Research ◽  
Empirical Studies ◽  
Infection Risk ◽  
Design Guidelines ◽  
Individual Level ◽  
Transit Accessibility ◽  
Level Data ◽  
Transmission Pathways

The coronavirus disease 2019 pandemic has stimulated intensive research interest in its transmission pathways and infection factors, e.g., socioeconomic and demographic characteristics, climatology, baseline health conditions or pre-existing diseases, and government policies. Meanwhile, some empirical studies suggested that built environment attributes may be associated with the transmission mechanism and infection risk of severe acute respiratory syndrome coronavirus 2 (SARS-CoV-2). However, no review has been conducted to explore the effect of built environment characteristics on the infection risk. This research gap prevents government officials and urban planners from creating effective urban design guidelines to contain SARS-CoV-2 infections and face future pandemic challenges. This review summarizes evidence from 25 empirical studies and provides an overview of the effect of built environment on SARS-CoV-2 infection risk. Virus infection risk was positively associated with the density of commercial facilities, roads, and schools and with public transit accessibility, whereas it was negatively associated with the availability of green spaces. This review recommends several directions for future studies, namely using longitudinal research design and individual-level data, considering multilevel factors and extending to diversified geographic areas.

scholarly journals Beyond a Dichotomous Understanding of Online Anonymity: Bridging the Macro and Micro Level

2021 ◽  
pp. 136078042110197
Author(s):  
Lina Eklund ◽  
Emma von Essen ◽  
Fatima Jonsson ◽  
Magnus Johansson
Keyword(s):  
Empirical Studies ◽  
Online Auctions ◽  
Future Research ◽  
Plural Form ◽  
Contentious Issue ◽  
Online Anonymity ◽  
Complex Process ◽  
Theoretical Synthesis ◽  
Micro Level ◽  
Different Levels

Anonymity on the Internet is a contentious issue; by some seen as an important freedom to be protected, while others argue for increased identification to protect groups at risk of exploitation. The debate reflects a dichotomous view of online anonymity; you are, or you are not anonymous. However, anonymity is a complex process played out on different levels and defined by various actors. While empirical studies show this, theoretical synthesis is lacking. This essay provides perspective on anonymity online by comparing two critical cases, online auctions and online gaming, we corroborate results from a 4-year interdisciplinary project with researchers from sociology, economics, and computer and system sciences. We argue that one should talk about anonymities in plural form, as online anonymity is not a state but a relational process. We put forth a conceptual model, which unpacks online anonymity as interdependent macro structures – legal, commercial, and technological – and micro/meso facets – factual, social group, and physical – to be used in future research.

scholarly journals Active versus passive academic networking: evidence from micro-level data

2011 ◽  
Vol 38 (2) ◽  
pp. 116-134 ◽  
Author(s):  
Rajeev K. Goel ◽  
Christoph Grimpe
Keyword(s):  
Level Data ◽  
Micro Level

Segregation, Integration, and Death: Evidence from the Korean War

2021 ◽  
pp. 1-22
Author(s):  
Connor Huff ◽  
Robert Schub
Keyword(s):  
Korean War ◽  
Short Term ◽  
Quantitative Evidence ◽  
Black And White ◽  
Us Military ◽  
Level Data ◽  
The Korean War ◽  
Micro Level ◽  
Military Units ◽  
Null Finding

Abstract How does the design of military institutions affect who bears the costs of war? We answer this question by studying the transformative shift from segregated to integrated US military units during the Korean War. Combining new micro-level data on combat fatalities with archival data on the deployment and racial composition of military battalions, we show that Black and white soldiers died at similar rates under segregation. Qualitative and quantitative evidence provides one potential explanation for this counterintuitive null finding: acute battlefield concerns necessitated deploying military units wherever soldiers were needed, regardless of their race. We next argue that the mid-war racial integration of units, which tied the fates of soldiers more closely together, should not alter the relative fatality rates. The evidence is consistent with this expectation. Finally, while aggregate fatality rates were equal across races, segregation enabled short-term casualty discrepancies. Under segregation there were high casualty periods for white units followed by high casualty periods for Black units. Integration eliminated this variability. This research note highlights how enshrining segregationist policies within militaries creates permissive conditions for either commanders' choices, or the dictates and variability of conflict, to shape who bears war's costs.

scholarly journals Invalid Ballots and Electoral Competition

2016 ◽  
Vol 7 (2) ◽  
pp. 289-310 ◽  
Author(s):  
Gani Aldashev ◽  
Giovanni Mastrobuoni
Keyword(s):  
Electoral Competition ◽  
Negative Relationship ◽  
Data Set ◽  
Electoral Fraud ◽  
Parliamentary Elections ◽  
Electoral Outcome ◽  
Level Data ◽  
Rational Allocation ◽  
Micro Level ◽  
High Share

In close elections, a sufficiently high share of invalid ballots—if driven by voter mistakes or electoral fraud—can jeopardize the electoral outcome. We study how the closeness of electoral race relates to the share of invalid ballots, under the traditional paper-ballot hand-counted voting technology. Using a large micro-level data set from the Italian parliamentary elections in 1994–2001, we find a strong robust negative relationship between the margin of victory of the leading candidate over the nearest rival and the share of invalid ballots. We argue that this relationship is not driven by voter mistakes, protest, or electoral fraud. The explanation that garners most support is that of rational allocation of effort by election officers and party representatives, with higher rates ofdetectionof invalid ballots in close elections.

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