Andreas Fuster

Swiss National Bank - Financial Stability

Boersenstrasse 15

Zurich, CH-8022

Switzerland

SCHOLARLY PAPERS

24

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4,886

SSRN CITATIONS
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Top 2,403

in Total Papers Citations

141

CROSSREF CITATIONS

292

Scholarly Papers (24)

Predictably Unequal? The Effects of Machine Learning on Credit Markets

Number of pages: 73 Posted: 17 Nov 2017 Last Revised: 09 Nov 2018
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York, Imperial College London and University of Warwick - Warwick Business School
Downloads 1,777 (8,765)
Citation 22

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machine learning, credit, mortgages, disparate impact.

Predictably Unequal? The Effects of Machine Learning on Credit Markets

CEPR Discussion Paper No. DP12448
Number of pages: 60 Posted: 20 Nov 2017
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York, Imperial College London and University of Warwick - Warwick Business School
Downloads 2 (674,708)
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credit access, Machine Learning, Mortgages, statistical discrimination

2.

Expectations as Endowments: Evidence on Reference-Dependent Preferences from Exchange and Valuation Experiments

Number of pages: 37 Posted: 14 Nov 2009 Last Revised: 08 Jun 2010
Keith M. Marzilli Ericson and Andreas Fuster
Boston University - Markets, Public Policy, and Law and Swiss National Bank - Financial Stability
Downloads 545 (49,974)
Citation 33

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reference points, expectations, loss aversion, endowment effect, willingness-to-accept, experimental economics

3.

Understanding Mortgage Spreads

FRB of New York Staff Report No. 674
Number of pages: 79 Posted: 29 May 2014 Last Revised: 22 Jun 2018
Nina Boyarchenko, Andreas Fuster and David O. Lucca
Federal Reserve Bank of New York, Swiss National Bank - Financial Stability and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 377 (78,701)
Citation 6

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agency mortgage-backed securities, option-adjusted spreads, prepayment risk, OAS smile

4.

Securitization and the Fixed-Rate Mortgage

FRB of New York Staff Report No. 594
Number of pages: 77 Posted: 09 Jan 2013 Last Revised: 04 Jul 2014
Andreas Fuster and James I. Vickery
Swiss National Bank - Financial Stability and Federal Reserve Bank of New York
Downloads 295 (103,365)
Citation 8

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mortgage finance, securitization, difference-in-differences, regression discontinuity design

5.
Downloads 200 (152,817)
Citation 12

The Role of Technology in Mortgage Lending

FRB of New York Staff Report No. 836
Number of pages: 75 Posted: 21 Feb 2018
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York, New York University (NYU) - Department of Finance and Federal Reserve Bank of New York
Downloads 171 (176,164)

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mortgage, technology, prepayments, nonbanks

The Role of Technology in Mortgage Lending

NBER Working Paper No. w24500
Number of pages: 61 Posted: 24 Apr 2018
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York, New York University (NYU) - Department of Finance and Federal Reserve Bank of New York
Downloads 28 (493,989)
Citation 3
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The Role of Technology in Mortgage Lending

CEPR Discussion Paper No. DP12961
Number of pages: 77 Posted: 05 Jun 2018
New York University (NYU) - Department of Finance, Swiss National Bank - Financial Stability, Federal Reserve Bank of New York and Federal Reserve Banks - Federal Reserve Bank of New York
Downloads 1 (688,762)
Citation 3
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Financial Intermediation, Fintech, Mortgages

6.
Downloads 179 (169,116)
Citation 3

The Rescue of Fannie Mae and Freddie Mac

FRB Atlanta Working Paper No. 2015-2
Number of pages: 54 Posted: 13 Apr 2015
Federal Reserve Bank of Dallas, Swiss National Bank - Financial Stability, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 87 (294,380)
Citation 1

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Fannie Mae, Freddie Mac, housing finance, financial crisis, government intervention

The Rescue of Fannie Mae and Freddie Mac

FRB of New York Staff Report No. 719
Number of pages: 55 Posted: 24 Mar 2015
Federal Reserve Bank of Dallas, Swiss National Bank - Financial Stability, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 67 (343,542)

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Fannie Mae, Freddie Mac, housing finance, financial crisis, government intervention

The Rescue of Fannie Mae and Freddie Mac

FRB of New York Staff Report No. 719
Number of pages: 55 Posted: 18 Aug 2015
Federal Reserve Bank of Dallas, Swiss National Bank - Financial Stability, Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 25 (511,760)
Citation 2

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Fannie Mae, Freddie Mac, housing finance, financial crisis, government intervention

7.

The Sensitivity of Housing Demand to Financing Conditions: Evidence from a Survey

FRB of New York Staff Report No. 702
Number of pages: 52 Posted: 09 Dec 2014 Last Revised: 06 Aug 2015
Andreas Fuster and Basit Zafar
Swiss National Bank - Financial Stability and Arizona State University
Downloads 139 (209,355)
Citation 11

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housing demand, mortgage rates, down payment requirements, user cost model

Another Hidden Cost of Incentives: The Detrimental Effect on Norm Enforcement

FRB of Boston Working Paper No. 09-2
Number of pages: 54 Posted: 06 Mar 2009
Andreas Fuster and Stephan Meier
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston
Downloads 138 (211,159)

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public goods, experimental economics, norm enforcement, hidden costs of incentives

Another Hidden Cost of Incentives: The Detrimental Effect on Norm Enforcement

Management Science, Vol. 56, No. 1, pp. 57-70, 2010
Posted: 31 Oct 2011 Last Revised: 01 Nov 2011
Andreas Fuster and Stephan Meier
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston

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public goods, prosocial behavior, norm enforcement, hidden cost of incentives, experimental economics

9.
Downloads 136 (213,169)
Citation 37

Payment Size, Negative Equity, and Mortgage Default

FRB of New York Staff Report No. 582
Number of pages: 61 Posted: 09 Dec 2012 Last Revised: 26 Jan 2015
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 121 (234,137)
Citation 7

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mortgage finance, delinquency, adjustable-rate mortgages, Alt-A

Payment Size, Negative Equity, and Mortgage Default

NBER Working Paper No. w19345
Number of pages: 67 Posted: 17 Aug 2013
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 15 (576,497)
Citation 5

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Regional Heterogeneity and the Refinancing Channel of Monetary Policy

FRB of New York Staff Report No. 731
Number of pages: 73 Posted: 19 Jun 2015 Last Revised: 18 Mar 2018
Martin Beraja, Andreas Fuster, Erik Hurst and Joseph Vavra
University of Chicago, Swiss National Bank - Financial Stability, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 96 (276,107)
Citation 4

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monetary policy, regional inequality, quantitative easing, mortgage refinancing

Regional Heterogeneity and Monetary Policy

NBER Working Paper No. w23270
Number of pages: 73 Posted: 27 Mar 2017
Martin Beraja, Andreas Fuster, Erik Hurst and Joseph Vavra
University of Chicago, Swiss National Bank - Financial Stability, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 12 (597,212)

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Regional Heterogeneity and Monetary Policy

FRB of NY Staff Report No. 731
Number of pages: 68 Posted: 07 Sep 2017
Martin Beraja, Andreas Fuster, Erik Hurst and Joseph Vavra
University of Chicago, Swiss National Bank - Financial Stability, University of Chicago - Booth School of Business and University of Chicago - Booth School of Business
Downloads 7 (632,508)

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monetary policy, regional inequality, quantitative easing, mortgage refinancing

11.

The Rising Gap between Primary and Secondary Mortgage Rates

Economic Policy Review, Vol. 19, No. 2, 2013
Number of pages: 23 Posted: 13 Jan 2014
Swiss National Bank - Financial Stability, The Urban Institute - Housing Finance Policy Center, Federal Reserve Banks - Federal Reserve Bank of New York, Federal Reserve Bank of New York, Federal Reserve Banks - Emerging Markets and International Affairs Group and Federal Reserve Bank of Boston - Research Department
Downloads 112 (246,629)

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mortgages, banking

12.

$1.25 Trillion is Still Real Money: Some Facts About the Effects of the Federal Reserve’s Mortgage Market Investments

FRB of Boston Public Policy Discussion Paper No. 10-4
Number of pages: 55 Posted: 16 Oct 2010
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 112 (246,629)
Citation 27

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13.

Home Price Expectations and Behavior: Evidence from a Randomized Information Experiment

FRB of NY Staff Report No. 798
Number of pages: 61 Posted: 20 Oct 2016 Last Revised: 11 Nov 2017
Luis Armona, Andreas Fuster and Basit Zafar
Stanford University, Swiss National Bank - Financial Stability and Arizona State University
Downloads 106 (256,385)
Citation 6

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housing, expectation formation, information, updating

The Time-Varying Price of Financial Intermediation in the Mortgage Market

FRB of NY Staff Report No. 805
Number of pages: 66 Posted: 20 Jan 2017 Last Revised: 31 Aug 2017
Andreas Fuster, Stephanie Lo and Paul Willen
Swiss National Bank - Financial Stability, Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 52 (390,514)
Citation 1

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mortgage finance, financial intermediation, monetary policy transmission

The Time-Varying Price of Financial Intermediation in the Mortgage Market

FRB of Boston Working Paper No. 16-28
Number of pages: 65 Posted: 17 Mar 2017 Last Revised: 30 Aug 2017
Andreas Fuster, Stephanie Lo and Paul Willen
Swiss National Bank - Financial Stability, Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 41 (432,081)

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mortgage finance, financial intermediation, monetary policy transmission

The Time-Varying Price of Financial Intermediation in the Mortgage Market

NBER Working Paper No. w23706
Number of pages: 66 Posted: 21 Aug 2017 Last Revised: 08 Sep 2017
Andreas Fuster, Stephanie Lo and Paul Willen
Swiss National Bank - Financial Stability, Harvard University and Federal Reserve Bank of Boston - Research Department
Downloads 4 (654,915)

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Expectations With Endogenous Information Acquisition: An Experimental Investigation

Number of pages: 95 Posted: 12 Jul 2018 Last Revised: 26 Jun 2019
Swiss National Bank - Financial Stability, University of California, Los Angeles (UCLA), Sciences Po and Arizona State University (ASU) - Department of Economics
Downloads 76 (319,821)

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Expectations, Experiment, Housing, Information Frictions, Rational Inattention

Expectations with Endogenous Information Acquisition: An Experimental Investigation

NBER Working Paper No. w24767
Number of pages: 47 Posted: 06 Jul 2018
Andreas Fuster, Ricardo Perez-Truglia and Basit Zafar
Swiss National Bank - Financial Stability, University of California, Los Angeles (UCLA) and Arizona State University (ASU) - Department of Economics
Downloads 3 (663,759)
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16.
Downloads 76 (316,567)
Citation 2

Tracking and Stress-Testing U.S. Household Leverage

FRB of NY Staff Report No. 787
Number of pages: 50 Posted: 12 Aug 2016 Last Revised: 21 Sep 2017
Swiss National Bank - Financial Stability, University of Chicago - Booth School of Business and Federal Reserve Bank of New York
Downloads 55 (380,353)

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mortgages, leverage, stress testing

Tracking and Stress-Testing U.S. Household Leverage

Economic Policy Review, Issue 24-1, pp. 35-63, 2018
Number of pages: 29 Posted: 08 Oct 2018
Swiss National Bank - Financial Stability, University of Chicago - Booth School of Business and Federal Reserve Bank of New York
Downloads 21 (537,256)
Citation 4

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mortgages, leverage, stress testing

17.

How Do Mortgage Refinances Affect Debt, Default, and Spending? Evidence from HARP

FRB of New York Staff Report No. 841
Number of pages: 44 Posted: 01 Mar 2018
Joshua Abel and Andreas Fuster
Harvard University - Department of Economics and Swiss National Bank - Financial Stability
Downloads 62 (353,241)
Citation 8

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mortgages, refinancing, monetary policy transmission, heterogeneity, HARP

18.

Does CFPB Oversight Crimp Credit?

FRB of New York Staff Report No. 857
Number of pages: 47 Posted: 20 Jun 2018 Last Revised: 26 Jun 2018
Andreas Fuster, Matthew C. Plosser and James I. Vickery
Swiss National Bank - Financial Stability, Federal Reserve Banks - Federal Reserve Bank of New York and Federal Reserve Bank of New York
Downloads 61 (356,117)
Citation 3

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consumer financial protection bureau, credit, mortgage, regulation

19.
Downloads 58 (365,060)

The Endowment Effect

NBER Working Paper No. w19384
Number of pages: 35 Posted: 30 Aug 2013
Keith M. Marzilli Ericson and Andreas Fuster
Boston University - Markets, Public Policy, and Law and Swiss National Bank - Financial Stability
Downloads 58 (370,363)

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The Endowment Effect

Annual Review of Economics, Vol. 6, pp. 555-579, 2014
Posted: 08 Aug 2014
Keith M. Marzilli Ericson and Andreas Fuster
Boston University - Markets, Public Policy, and Law and Swiss National Bank - Financial Stability

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20.

Regulation and Risk Shuffling in Bank Securities Portfolios

FRB of New York Staff Report No. 851
Number of pages: 44 Posted: 15 Jun 2018
Andreas Fuster and James I. Vickery
Swiss National Bank - Financial Stability and Federal Reserve Bank of New York
Downloads 57 (368,175)
Citation 1

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bank, securities, available-for-sale, capital regulation, fair value accounting

Insuring Consumption Using Income-Linked Assets

FRB of Boston Working Paper No. 10-1
Number of pages: 48 Posted: 09 Mar 2010
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 44 (419,981)

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Income Risk, Risk Sharing, Portfolio Choice, Financial Innovation

Insuring Consumption Using Income-Linked Assets

NBER Working Paper No. w15829
Number of pages: 46 Posted: 22 Mar 2010
Andreas Fuster and Paul Willen
Swiss National Bank - Financial Stability and Federal Reserve Bank of Boston - Research Department
Downloads 12 (597,212)

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22.

Paying Too Much? Price Dispersion in the US Mortgage Market

Number of pages: 62 Posted: 22 Jul 2019
Neil Bhutta, Andreas Fuster and Aurel Hizmo
Board of Governors of the Federal Reserve System, Swiss National Bank - Financial Stability and Board of Governors of the Federal Reserve System
Downloads 50 (390,959)
Citation 2

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mortgages, household finance, interest rates, financial literacy, price dispersion

What Would You Do With $500? Spending Responses to Gains, Losses, News, and Loans

FRB of New York Staff Report No. 843
Number of pages: 65 Posted: 07 Mar 2018
Andreas Fuster, Greg Kaplan and Basit Zafar
Swiss National Bank - Financial Stability, University of Chicago - Department of Economics and Arizona State University
Downloads 26 (505,669)
Citation 17

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consumption, savings, marginal propensity to consume, survey

What Would You Do with $500? Spending Responses to Gains, Losses, News and Loans

NBER Working Paper No. w24386
Number of pages: 65 Posted: 12 Mar 2018
Andreas Fuster, Greg Kaplan and Basit Zafar
Swiss National Bank - Financial Stability, University of Chicago - Department of Economics and Arizona State University (ASU) - Department of Economics
Downloads 4 (654,915)
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24.

Natural Expectations, Macroeconomic Dynamics, and Asset Pricing

NBER Working Paper No. w17301
Number of pages: 73 Posted: 29 Aug 2011 Last Revised: 30 Aug 2011
Andreas Fuster, Benjamin Hebert and David Laibson
Swiss National Bank - Financial Stability, Stanford University and Harvard University - Department of Economics
Downloads 27 (485,824)
Citation 11

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