Bank Competition, Risk Taking, and their Consequences : Evidence from the U.S. Mortgage and Labor Markets /
Bank competition can induce excessive risk taking due to risk shifting. This paper tests this hypothesis using micro-level U.S. mortgage data by exploiting the exogenous variation in local house price volatility. The paper finds that, in response to high expected house price volatility, banks in U.S...
| Main Author: | |
|---|---|
| Format: | Journal |
| Language: | English |
| Published: |
Washington, D.C. :
International Monetary Fund,
2018.
|
| Series: | IMF Working Papers; Working Paper ;
No. 2018/157 |
| Online Access: | Full text available on IMF |