Webinar Series

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Pandemic

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Aug 2020

The Effects of the Coronavirus Pandemic in Emerging Markets and Developing Economies: An Optimistic Preliminary Account

Pinelopi Koujianou GOLDBERG, Tristan REED
Early in 2020, the general expectation was that the coronavirus pandemic’s effects would be more severe in developing countries than in advanced economies, both on the public health and economic fronts. Preliminary evidence as of June 2020 supports a more optimistic assessment. To date, most low- ...
Keywords: Coronavirus, Pandemic, emerging markets, Developing Countries
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Annual Conference

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Trade, Growth and Development

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May 2023

The Effects of Climate Change on Labor and Capital Reallocation

Christoph ALBERT, Paula BUSTOS, Jacopo PONTICELLI
Climate change is expected to reduce agricultural productivity in developing countries. Potential adaptation paths include the reallocation of capital and labor towards non-agricultural sectors or other regions. We study the experience of Brazil to provide direct evidence on these mechanisms. We doc...
Keywords: Droughts, SPEI, Brazil, Migration, Financial Integration
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Specialty Conference

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Specialty Conference

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Jan 2017

The Effectiveness of Housing Collateral Tightening Policy

Cristian BADARINZA, Sumit AGARWAL, Wenlan QIAN
We propose a novel supply-side channel for the transmission of macroprudential policy. We exploit a unique policy experiment that tightens collateral requirements differentially across mortgage contract types, and document a composition change towards borrowers that have higher debt-to-income ratios...
Keywords: credit supply, mortgage market, Household Finance
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Annual Conference

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Household Finance

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May 2023

The Effect of Principal Reduction on Household Distress: Evidence from Mortgage Cramdown

Jacelly CESPEDES, Carlos PARRA, Clemens SIALM
Mortgage cramdown enabled bankruptcy judges to discharge the underwater portion of a mortgage during Chapter 13 bankruptcy until the Supreme Court disallowed this practice in 1993. We investigate the impact of mortgage cramdown on household distress exploiting the random assignment of cases to judge...
Keywords: Debt Relief, Principal Reduction, Debt Overhang, Foreclosures, Consumer Bankruptcy, Housing Policies
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Senior Fellows/Fellows

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Senior Fellows/Fellows

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Jun 2025

The Effect of New Information Technologies on Asset Pricing Anomalies

David HIRSHLEIFER, Liang MA
We test and compare the effects of introduction of two new financial information technologies, EDGAR and XBRL, on well-known asset pricing anomalies often attributed to mispricing. EDGAR facilitates easier access to public accounting information about public firms; XBRL reduces the cost of processin...
Keywords: financial information technologies, anomalies, limited attention, limited processing power, stacked difference-in-differences, EDGAR, XBRL
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