Using novel data on bank applications to the Troubled Asset Relief Program (TARP), we
study the effect of government assistance on bank risk taking. Bailed-out banks initiate …

Using a panel of 104 banks from the six Gulf Council Countries, we investigate the cyclicality
of credit growth with regard to the discrepancies between Islamic banks and conventional …

We investigate whether the US stock market disciplines asset-backed commercial paper
(ABCP) liquidity guarantors who exploit a regulatory loophole that exempts at least 90% of …

This paper provides theoretical results for the design of contracts used in the market for
residential household mortgages and mortgage securities. Critical elements in the problem …

Over the past 31 years, The Journal of Fixed Income has published articles that were
primers about the structure and risk characteristics for the growing number of complex …

We examine the subprime market beginning with a subprime mortgage, followed by a
portfolio of such mortgages and then a series of such portfolios. We obtain an explicit …

This article describes a stochastic home price appreciation (HPA) model that can be used to
obtain random paths of simulated home prices that are consistent with historical behavior …

The need for proper identification of mortgage default factors has become a major focus of
mortgage researches given the debilitating effect of default on mortgage market and real …

The meltdown of the US subprime mortgage market in 2007 triggered a series of global
credit events. Major financial institutions have written down approximately $120 billion of …

Many families suffer economic losses during economic crises and a key political issue
during any such crisis is allocating these losses. During the 2008 financial crisis, American …