Area: Finance
Local Banks Provide an Early Warning System on Recessions
When they’re forced to pay up for deposits, it’s a bad sign for area’s economy
Loan Pool Covenants, Meant to Contain Risk, Can Instead Spread It
Forced sale of assets could stretch illiquidity across industries
Muni Bond Buyers Pay a Little Extra for the Pleasure of Not Being Taxed
Doing so, they subsidize government, which is, well, sort of like a tax
Migration — and Home Price Escalation — Happens Along Established Routes
Major cities reliably feed residents to the same smaller markets, and housing booms predictably travel with them
Looming Risk to Financial System: $1 Trillion in Commercial Loan Pools
Known as collateralized loan obligations, their aim is actually to reduce risk
Equity-Rich Homeowners Overpay for Their Next House
Less diligent as shoppers, such buyers help drive up home prices
Boom of Intangible Assets Felt Across Industries and Economy
Rethinking issues around productivity, income inequality and industry concentration
A Different Way to Evaluate Private Equity Performance
An approach tailored to investor risk appetite and more comparable to stocks
Across 145 Years and 17 Countries, a Common Thread in Risky Credit Booms
Do investors misprice assets, revise their risk appetite or make some other misjudgment?
Options Market Signals Scope of Federal Reserve Interventions
Traders see an implicit promise beyond specific asset purchases
How Much Debt Can the Government Roll Over Forever?
Public bonds compete against other investments; a model of that relationship
Middlemen: Matchmakers or Sources of Strategic Information?
Probing that question using a database of for-sale-by-owner home listings
Banks Transmit Financial Shocks, Including from Natural Disasters
How a localized flood may result in fewer loans to a far-off community
In a Crisis, Solvent Borrowers are Overcharged, Subsidizing Troubled Bank Clients
An unusual data trove from Greece’s economic collapse reveals the practice
Banks, Freed to Operate Across State Lines, Helped Stabilize the Economy
Lenders financed expansion in some markets, offsetting problems in others