Earticle

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

키워드

저자

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

참고문헌

발행기관

간행물

표지보기 관심저널 등록

• 간행물명

  한국재무학회 학술대회

• 간기

  부정기

• 수록기간

  2006~2024

• 십진분류

  KDC 325 DDC 330