Vincent Yao

Georgia State University - J. Mack Robinson College of Business

35 Broad Street

Atlanta, GA 30303-3083

United States

  • Georgia State University - J. Mack Robinson College of Business

SCHOLARLY PAPERS

37

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76

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342

Scholarly Papers (37)

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1.

The Contagion Effect of Foreclosed Properties

Journal of Urban Economics, Vol. 66, No. 3, pp. 164-178
Number of pages: 42 Posted: 17 Jul 2008 Last Revised: 17 Sep 2010
John P. Harding, Eric Rosenblatt and Vincent Yao
University of Connecticut - School of Business - Center for Real Estate and Urban Economic Studies, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 848 (28,365)
Citation 6

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Foreclosure, Contagion

2.

Mortgage Rates, Household Balance Sheets, and the Real Economy

Downloads 833 ( 29,119)
Citation 2

Mortgage Rates, Household Balance Sheets, and the Real Economy

Columbia Business School Research Paper No. 14-53
Number of pages: 61 Posted: 06 Oct 2014 Last Revised: 07 Nov 2014
Benjamin J. Keys, Tomasz Piskorski, Amit Seru and Vincent Yao
The Wharton School - University of Pennsylvania, Real Estate Department, Columbia Business School - Finance and Economics, Stanford University and Georgia State University - J. Mack Robinson College of Business
Downloads 816 (29,460)
Citation 2

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Household Leverage, Crisis, Deleveraging, Monetary Policy, Mortgage Rates, Household Consumption, Adjustable-Rate Mortgages

Mortgage Rates, Household Balance Sheets, and the Real Economy

NBER Working Paper No. w20561
Number of pages: 62 Posted: 06 Oct 2014
Benjamin J. Keys, Tomasz Piskorski, Amit Seru and Vincent Yao
The Wharton School - University of Pennsylvania, Real Estate Department, Columbia Business School - Finance and Economics, Stanford University and Georgia State University - J. Mack Robinson College of Business
Downloads 17 (576,648)

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3.

Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program

Downloads 723 ( 35,383)
Citation 14

Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program

Columbia Business School Research Paper No. 15-85, Kreisman Working Papers Series in Housing Law and Policy No. 27
Number of pages: 72 Posted: 21 Sep 2015 Last Revised: 29 Oct 2017
Sumit Agarwal, Gene Amromin, Souphala Chomsisengphet, Tim Landvoigt, Tomasz Piskorski, Amit Seru and Vincent Yao
National University of Singapore, Federal Reserve Bank of Chicago, Office of the Comptroller of the Currency (OCC), University of Pennsylvania - The Wharton School, Columbia Business School - Finance and Economics, Stanford University and Georgia State University - J. Mack Robinson College of Business
Downloads 706 (35,934)
Citation 4

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Financial Crisis, HARP, Debt, Refinancing, Consumption, Spending, Household Finance, Mortgages, Policy Intervention

Mortgage Refinancing, Consumer Spending, and Competition: Evidence from the Home Affordable Refinancing Program

NBER Working Paper No. w21512
Number of pages: 73 Posted: 31 Aug 2015 Last Revised: 08 Sep 2015
Sumit Agarwal, Gene Amromin, Souphala Chomsisengphet, Tomasz Piskorski, Amit Seru and Vincent Yao
National University of Singapore, Federal Reserve Bank of Chicago, Office of the Comptroller of the Currency (OCC), Columbia Business School - Finance and Economics, Stanford University and Georgia State University - J. Mack Robinson College of Business
Downloads 17 (576,648)
Citation 2

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4.

Spillover Effects of Foreclosures on Neighborhood Property Values

Journal of Real Estate Finance and Economics, Vol. 38, No. 4, May 2009
Number of pages: 36 Posted: 29 Nov 2007 Last Revised: 07 Jan 2015
Zhenguo (Len) Lin, Eric Rosenblatt and Vincent Yao
Florida International University (FIU) - Hollo School of Real Estate, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 613 (44,117)
Citation 4

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Foreclosure, Spillover, Valuation

5.

Systematic Mistakes in the Mortgage Market and Lack of Financial Sophistication

Journal of Financial Economics (JFE), Forthcoming, Charles A. Dice Working Paper No. 2016-09, Fisher College of Business Working Paper No. 2016-03-9
Number of pages: 45 Posted: 12 Jan 2015 Last Revised: 23 Jun 2016
Sumit Agarwal, Itzhak Ben-David and Vincent Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 422 (70,545)
Citation 11

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Discount points, mortgage decision making, refinancing, leverage, financial literacy, household finance, inattentiveness

6.

Second Chance: Life without Student Debt

Downloads 388 ( 77,878)

Second Chance: Life without Student Debt

Number of pages: 61 Posted: 26 Apr 2019 Last Revised: 29 Nov 2019
Marco Di Maggio, Ankit Kalda and Vincent Yao
Harvard Business School, Indiana University - Kelley School of Business - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 375 (80,269)

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Student Debt, Private Student Loans, Legal Settlement, Mobility, Debt Collection

Second Chance: Life Without Student Debt

NBER Working Paper No. w25810
Number of pages: 59 Posted: 07 May 2019
Marco Di Maggio, Ankit Kalda and Vincent Yao
Harvard Business School, Indiana University - Kelley School of Business - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 13 (604,167)
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7.

Why Do Borrowers Make Mortgage Refinancing Mistakes?

Downloads 280 (112,084)
Citation 10

Why Do Borrowers Make Mortgage Refinancing Mistakes?

Forthcoming, Management Science
Number of pages: 46 Posted: 07 Jun 2014 Last Revised: 01 Jun 2015
Sumit Agarwal, Richard J. Rosen and Vincent Yao
National University of Singapore, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 162 (189,039)
Citation 5

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis, Rational Inattention

Why Do Borrowers Make Mortgage Refinancing Mistakes?

FRB of Chicago Working Paper No. 2013-02
Number of pages: 52 Posted: 04 May 2013
Sumit Agarwal, Richard J. Rosen and Vincent Yao
National University of Singapore, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 118 (244,390)
Citation 12

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis, Rational Inattention

8.

The Foreclosure Discount: Myth or Reality?

Journal of Urban Economics, Vol. 71, 2012, 2, p. 204-219.
Number of pages: 45 Posted: 12 Jan 2010 Last Revised: 14 Nov 2015
John P. Harding, Eric Rosenblatt and Vincent Yao
University of Connecticut - School of Business - Center for Real Estate and Urban Economic Studies, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 260 (121,106)

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Foreclosure Discount, Distressed Borrower, Bargaining, Valuation

9.

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

Downloads 243 (129,896)
Citation 25

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

Number of pages: 47 Posted: 15 Dec 2013
Sumit Agarwal, Itzhak Ben-David and Vincent Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 166 (185,155)
Citation 2

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collateral valuation, lending, banks, loans, default, financial crisis

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

Fisher College of Business Working Paper No. 2012-03-011, Charles A. Dice Center Working Paper No. 2012-11
Number of pages: 47 Posted: 02 Jul 2012 Last Revised: 10 Feb 2014
Sumit Agarwal, Itzhak Ben-David and Vincent Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 67 (351,778)

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collateral valuation, institutional pressure, lending, banks, loans, default, financial crisis

Collateral Valuation and Borrower Financial Constraints: Evidence from the Residential Real Estate Market

NBER Working Paper No. w19606
Number of pages: 51 Posted: 01 Nov 2013
Sumit Agarwal, Itzhak Ben-David and Vincent Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 10 (625,715)
Citation 1

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10.

Can Regulation De-bias Appraisers?

Journal of Financial Intermediation, Forthcoming
Number of pages: 35 Posted: 21 Dec 2014 Last Revised: 23 Apr 2019
Sumit Agarwal, Brent W. Ambrose and Vincent Yao
National University of Singapore, Pennsylvania State University and Georgia State University - J. Mack Robinson College of Business
Downloads 216 (145,673)
Citation 13

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mortgages, valuation, financial crisis, regulations, appraisal bias

11.

Monthly Output Index for the U.S. Transportation Sector

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Monthly Output Index for the U.S. Transportation Sector

Journal of Transportation and Statistics, Vol. 6, No. 2, 2003
Posted: 13 May 2008
Kajal Lahiri, H.O. Stekler, Vincent Yao and Peg Young
State University of New York (SUNY) at Albany, College of Arts and Sciences, Economics, George Washington University - Department of Economics, Georgia State University - J. Mack Robinson College of Business and U.S. Department of Transportation

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transportation output, Fisher Ideal Index,business cycles, growth cycles, freight transportation.

12.

Model Stability and the Subprime Mortgage Crisis

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 43 Posted: 14 Sep 2010
Xudong An, Yongheng Deng, Eric Rosenblatt and Vincent Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Wisconsin School of Business, University of Wisconsin-Madison, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 189 (164,946)
Citation 1

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Subprime Mortgage, Default Risk, Model Stability, Hazard Model, Logit Model

13.

Financial Decision Making When Buying and Owning a Home

Number of pages: 40 Posted: 21 Sep 2014
Sumit Agarwal, Crocker Herbert Liu, Walter N. Torous and Vincent Yao
National University of Singapore, Cornell University - School of Hotel Administration, Massachusetts Institute of Technology and Georgia State University - J. Mack Robinson College of Business
Downloads 185 (168,184)
Citation 5

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Household Finance, Mortgages, Refinance, Option Value, Financial Crisis

14.

Banking Competition and Shrouded Attributes: Evidence from the US Mortgage Market

Georgetown McDonough School of Business Research Paper No. 2900287
Number of pages: 57 Posted: 16 Jan 2017 Last Revised: 27 Nov 2017
Sumit Agarwal, Changcheng Song and Vincent Yao
National University of Singapore, National University of Singapore (NUS) and Georgia State University - J. Mack Robinson College of Business
Downloads 140 (213,251)
Citation 2

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Deregulation; competition; shrouding; behavioral bias

15.

Financial Literacy and Mortgage Credit: Evidence from the Recent Mortgage Market Crisis

Number of pages: 52 Posted: 18 Jul 2015
Xudong An, Raphael W. Bostic and Vincent Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Bank of Atlanta and Georgia State University - J. Mack Robinson College of Business
Downloads 129 (227,524)
Citation 2

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financial literacy, mortgage credit, mortgage choice, borrowing cost, default, prepayment

16.

Gender Difference and Intra-Household Economic Power in Mortgage Signing Order

Journal of Financial Intermediation, Forthcoming
Number of pages: 48 Posted: 12 Jun 2015 Last Revised: 20 Jan 2018
Sumit Agarwal, Richard K. Green, Eric Rosenblatt, Vincent Yao and Jian Zhang
National University of Singapore, University of Southern California - Lusk Center for Real Estate, Federal National Mortgage Association (Fannie Mae) - Research, Georgia State University - J. Mack Robinson College of Business and Hong Kong Baptist University (HKBU) - Department of Finance and Decision Sciences
Downloads 105 (264,257)
Citation 1

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Gender Difference, Economic Power, Mortgage Application, Household Finance

17.

Asymmetric Information and Subprime Mortgage Default

Number of pages: 34 Posted: 15 Nov 2015
Xudong An, A. Quang Do, Timothy J. Riddiough and Vincent Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, San Diego State University, University of Wisconsin - School of Business - Department of Real Estate and Urban Land Economics and Georgia State University - J. Mack Robinson College of Business
Downloads 98 (276,931)

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excess premium, soft information, adverse selection, subprime mortgage

18.

Collateral Pledge, Sunk-Cost Fallacy and Mortgage Default

Number of pages: 37 Posted: 07 Jun 2014 Last Revised: 11 Aug 2014
Sumit Agarwal, Richard K. Green, Eric Rosenblatt and Vincent Yao
National University of Singapore, University of Southern California - Lusk Center for Real Estate, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 97 (278,796)
Citation 4

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Household Finance, Mortgages, Collateral, Option Value, Financial Crisis, Sunk Cost

19.

Lender Steering in Residential Mortgage Markets

Real Estate Economics, Forthcoming.
Number of pages: 33 Posted: 06 Oct 2015 Last Revised: 05 May 2017
Sumit Agarwal, Brent W. Ambrose and Vincent Yao
National University of Singapore, Pennsylvania State University and Georgia State University - J. Mack Robinson College of Business
Downloads 94 (284,541)
Citation 3

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Steering, Securitization, Banking Deregulation, Insurance

20.

The Political Economy of Loan Modification

Number of pages: 47 Posted: 29 May 2018
Sumit Agarwal, Kristopher Gerardi and Vincent Yao
National University of Singapore, Federal Reserve Bank of Atlanta and Georgia State University - J. Mack Robinson College of Business
Downloads 76 (323,992)

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Political Economy, Financial Crisis, Loan Modification, Mortgages, Dodd-Frank Act

21.

Credit Expansion, Competition, and House Prices

Number of pages: 45 Posted: 03 Sep 2016 Last Revised: 17 Nov 2016
Xudong An and Vincent Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Georgia State University - J. Mack Robinson College of Business
Downloads 75 (326,457)
Citation 2

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Conforming loan limit; credit supply; financial crisis

22.

How Do Households Make Mortgage Choices?

Real Estate Economics, Virtual Issue, 2016
Number of pages: 9 Posted: 11 Nov 2016 Last Revised: 07 Dec 2016
Andra C. Ghent and Vincent Yao
University of North Carolina (UNC) at Chapel Hill - Finance Area and Georgia State University - J. Mack Robinson College of Business
Downloads 74 (329,014)

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Mortgage Choice; Broker; Contracts; Reverse Mortgages

23.

Is Co-Ownership with the Wife a Risk Mitigator?

Number of pages: 54 Posted: 20 Nov 2018 Last Revised: 09 Sep 2019
Yue Pan, Jinli Xiao, Vincent Yao and Jian Zhang
Xiamen University - School of Economics, Xiamen University - School of Management, Georgia State University - J. Mack Robinson College of Business and Hong Kong Baptist University (HKBU) - Department of Finance and Decision Sciences
Downloads 58 (373,724)
Citation 1

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Gender, Risk taking, Family firm, Family legacy, Cultural norms, Marriage market

24.

Sales of Distressed Residential Property: What Have We Learned from Recent Research?

Review, Vol. 98, Issue 3, pp. 159-88, 2016
Number of pages: 30 Posted: 15 Sep 2016 Last Revised: 17 Jul 2019
Jeffrey Cohen, Cletus C. Coughlin and Vincent Yao
University of Connecticut - School of Business, Federal Reserve Bank of St. Louis - Research Division and Georgia State University - J. Mack Robinson College of Business
Downloads 55 (383,403)

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25.

Relational Contracts, Reputational Concerns, and Appraiser Behavior: Evidence from the Housing Market

Georgetown McDonough School of Business Research Paper No. 3076944
Number of pages: 47 Posted: 29 Nov 2017
Sumit Agarwal, Changcheng Song and Vincent Yao
National University of Singapore, National University of Singapore (NUS) and Georgia State University - J. Mack Robinson College of Business
Downloads 53 (389,871)
Citation 3

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relational contracts; appraiser; bunching; reputational concern; moral hazard; third party

26.

Deadly Subprime Credit

Number of pages: 46 Posted: 03 Sep 2019 Last Revised: 27 Sep 2019
Geng Li, Han Ma and Vincent Yao
Federal Reserve Board, Georgia State University - J. Mack Robinson College of Business and Georgia State University - J. Mack Robinson College of Business
Downloads 44 (421,716)

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Subprime Auto Loans, Traffic Fatality, Credit-Based Insurance, Externality of Subprime Credit

27.

Should Transportation Output Be Included as Part of the Coincident Indicators System?

CESifo Working Paper Series No. 3477
Number of pages: 44 Posted: 06 Jun 2011
Kajal Lahiri and Vincent Yao
State University of New York (SUNY) at Albany, College of Arts and Sciences, Economics and Georgia State University - J. Mack Robinson College of Business
Downloads 43 (425,480)

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transportation services index (TSI), business cycles, coincident indicators

28.

Do People Leave Money on the Table? Evidence from Joint Mortgage Applications and the Minimum FICO Rule

FEDS Notes. Washington: Board of Governors of the Federal Reserve System, 2016, DOI: org/10.17016/2380-7172.1718
Number of pages: 4 Posted: 03 Apr 2016
Geng Li, Weifeng Wu and Vincent Yao
Federal Reserve Board, Independent and Georgia State University - J. Mack Robinson College of Business
Downloads 36 (454,154)

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Mistakes; Mortgages; Couples

29.

Comovements and Asymmetric Tail Dependence in State Housing Prices in the US: A Nonparametric Approach

Number of pages: 10 Posted: 28 Aug 2018 Last Revised: 25 Jan 2019
Haitao Huang, Liang Peng and Vincent Yao
J. Mack Robinson College of Business, Georgia State University, Georgia State University - Risk Management & Insurance Department and Georgia State University - J. Mack Robinson College of Business
Downloads 31 (476,837)

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AR-GARCH Model, Comovements, House Price Index

30.

Foreclosure Externalities: Some New Evidence

Downloads 30 (481,760)
Citation 37

Foreclosure Externalities: Some New Evidence

NBER Working Paper No. w18353
Number of pages: 47 Posted: 08 Sep 2012 Last Revised: 04 Jul 2014
Kristopher Gerardi, Eric Rosenblatt, Paul Willen and Vincent Yao
Federal Reserve Bank of Atlanta, Federal National Mortgage Association (Fannie Mae) - Research, Federal Reserve Bank of Boston - Research Department and Georgia State University - J. Mack Robinson College of Business
Downloads 18 (569,795)
Citation 6

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Foreclosure Externalities: Some New Evidence

FRB Atlanta Working Paper No. 2012-11
Number of pages: 46 Posted: 22 Mar 2015
Kristopher Gerardi, Eric Rosenblatt, Paul Willen and Vincent Yao
Federal Reserve Bank of Atlanta, Federal National Mortgage Association (Fannie Mae) - Research, Federal Reserve Bank of Boston - Research Department and Georgia State University - J. Mack Robinson College of Business
Downloads 12 (611,453)
Citation 1

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foreclosure, mortgage, judicial, power of sale, right to cure

31.

Ownership Restriction and Housing Values: Evidence from American Housing Survey

Journal of Real Estate Research, Vol. 32, No. 2, p. 201, 2010
Number of pages: 20 Posted: 16 Oct 2011
Zhenguo (Len) Lin, Yingchun Liu and Vincent Yao
Florida International University (FIU) - Hollo School of Real Estate, Dept. of Finance, Insurance, Real Estate and Law, University of North Texas and Georgia State University - J. Mack Robinson College of Business
Downloads 17 (556,041)

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Ownership restriction, Housing value

32.

Fintech Borrowers: Lax-Screening or Cream-Skimming?

Posted: 16 Aug 2018 Last Revised: 15 Feb 2019
Marco Di Maggio and Vincent Yao
Harvard Business School and Georgia State University - J. Mack Robinson College of Business

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Fintech, Credit History, Self-Control, Present-Bias

33.

Home Equity Extraction by Homeowners: 2000-2006

Journal of Real Estate Research, 2009
Posted: 01 Feb 2009
Michael LaCour-Little, Eric Rosenblatt and Vincent Yao
Federal National Mortgage Association (Fannie Mae), Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business

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Cash our refinance, equity extraction

34.

Transportation Investment and Economic Development

Annals of Regional Science, Vol. 42, No. 3, 2008
Posted: 03 Sep 2008 Last Revised: 17 Sep 2010
Cletus C. Coughlin, Randall W. Eberts and Vincent Yao
Federal Reserve Bank of St. Louis - Research Division, W.E. Upjohn Institute for Employment Research and Georgia State University - J. Mack Robinson College of Business

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Transportation investment, Economic development

35.

Economic Indicators for the US Transportation Sector

Transportation Research A: Policy and Practice, Vol. 40, No. 10, 2006
Posted: 13 May 2008
Kajal Lahiri and Vincent Yao
State University of New York (SUNY) at Albany, College of Arts and Sciences, Economics and Georgia State University - J. Mack Robinson College of Business

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Transportation, Business cycles, Leading indicators, Index of concordance, Dynamic factor models

36.

Measuring and Predicting Turning Points Using a Dynamic Bi-Factor Model

International Journal of Forecasting, Vol. 21, No. 3, 2005
Posted: 13 May 2008
Konstantin A. Kholodilin and Vincent Yao
German Institute for Economic Research (DIW Berlin) and Georgia State University - J. Mack Robinson College of Business

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Forecasting turning points, Composite coincident indicator, Composite leading indicator, Dynamic bi-factor model

37.

Interstate Spillovers of Private Capital and Public Spending

Annals of Regional Science, Vol. 42, Number 3, pages 505-518, 2008
Posted: 14 Apr 2008 Last Revised: 16 Sep 2010
Vincent Yao and Brian W. Sloboda
Georgia State University - J. Mack Robinson College of Business and affiliation not provided to SSRN

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Private capital stocks, public spending, spillover effects, economic growth, infrastructure investment