Vincent W. Yao

Georgia State University - J. Mack Robinson College of Business

35 Broad Street

Atlanta, GA 30303-3083

United States

SCHOLARLY PAPERS

33

DOWNLOADS
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CITATIONS
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59

Scholarly Papers (33)

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
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 760 (25,643)
Citation 1

Abstract:

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
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 13 (505,703)
Citation 1
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Abstract:

2.

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 W. 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 724 (24,442)
Citation 26

Abstract:

Foreclosure, Contagion

3.

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 W. Yao
Hollo School of Real Estate, Florida International University, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 580 (37,680)
Citation 25

Abstract:

Foreclosure, Spillover, Valuation

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: 61 Posted: 21 Sep 2015 Last Revised: 03 Nov 2015
Georgetown University - Department of Finance, 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 453 (51,033)

Abstract:

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: 58 Posted: 31 Aug 2015
Georgetown University - Department of Finance, 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 11 (517,327)
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Abstract:

5.
Downloads 225 (113,712)
Citation 1

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 W. Yao
Georgetown University - Department of Finance, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 115 (204,241)
Citation 1

Abstract:

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 W. Yao
Georgetown University - Department of Finance, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 110 (211,057)
Citation 1

Abstract:

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

6.

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 W. 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 223 (107,000)
Citation 1

Abstract:

Foreclosure Discount, Distressed Borrower, Bargaining, Valuation

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 W. Yao
Georgetown University - Department of Finance, Ohio State University - Fisher College of Business, Finance Department and Georgia State University - J. Mack Robinson College of Business
Downloads 132 (183,421)

Abstract:

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 W. Yao
Georgetown University - Department of Finance, Ohio State University - Fisher College of Business, Finance Department and Georgia State University - J. Mack Robinson College of Business
Downloads 58 (313,124)
Citation 1

Abstract:

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 W. Yao
Georgetown University - Department of Finance, Ohio State University - Fisher College of Business, Finance Department and Georgia State University - J. Mack Robinson College of Business
Downloads 6 (544,340)

Abstract:

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 W. 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

Abstract:

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

9.

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 W. Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 177 (142,664)
Citation 2

Abstract:

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

10.

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 W. Yao
Georgetown University - Department of Finance, Ohio State University - Fisher College of Business, Finance Department and Georgia State University - J. Mack Robinson College of Business
Downloads 69 (84,065)

Abstract:

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

11.

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

Georgetown McDonough School of Business Research Paper No. 2900287
Number of pages: 49 Posted: 16 Jan 2017 Last Revised: 09 Aug 2017
Sumit Agarwal, Changcheng Song and Vincent W. Yao
Georgetown University - Department of Finance, National University of Singapore (NUS) and Georgia State University - J. Mack Robinson College of Business
Downloads 56 (314,043)

Abstract:

Deregulation; competition; shrouding; behavioral bias

12.

Collateral Pledge, Sunk-Cost Fallacy and Mortgage Default

Number of pages: 37 Posted: 07 Jun 2014 Last Revised: 11 Aug 2014
Georgetown University - Department of Finance, 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 54 (261,243)

Abstract:

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

13.

The Effects and Limits of Regulation: Appraisal Bias in the Mortgage Market

Number of pages: 44 Posted: 21 Dec 2014 Last Revised: 18 Apr 2017
Sumit Agarwal, Brent W. Ambrose and Vincent W. Yao
Georgetown University - Department of Finance, Pennsylvania State University and Georgia State University - J. Mack Robinson College of Business
Downloads 42 (174,420)

Abstract:

mortgages, valuation, financial crisis, regulations, appraisal bias

14.

Financial Decision Making When Buying and Owning a Home

Number of pages: 40 Posted: 21 Sep 2014
Georgetown University - Department of Finance, Cornell University - School of Hotel Administration, Massachusetts Institute of Technology and Georgia State University - J. Mack Robinson College of Business
Downloads 41 (212,832)

Abstract:

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

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 W. Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, Federal Reserve Banks - Federal Reserve Bank of Atlanta and Georgia State University - J. Mack Robinson College of Business
Downloads 33 (239,214)

Abstract:

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

16.

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 W. 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 23 (392,369)

Abstract:

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

17.
Downloads 18 (459,956)
Citation 1

Foreclosure Externalities: Some New Evidence

NBER Working Paper No. w18353
Number of pages: 47 Posted: 08 Sep 2012 Last Revised: 04 Jul 2014
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 (511,633)
Citation 1

Abstract:

Foreclosure Externalities: Some New Evidence

FRB Atlanta Working Paper No. 2012-11
Number of pages: 46 Posted: 22 Mar 2015
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 6 (544,340)
Citation 1

Abstract:

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

18.

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

Number of pages: 36 Posted: 12 Jun 2015 Last Revised: 01 Oct 2016
Georgetown University - Department of Finance, 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 16 (296,166)

Abstract:

Gender difference; Economic authority; Mortgage application; Household finance

19.

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 W. Yao
Hollo School of Real Estate, Florida International University, Dept. of Finance, Insurance, Real Estate and Law, University of North Texas and Georgia State University - J. Mack Robinson College of Business
Downloads 11 (475,501)
Citation 1

Abstract:

Ownership restriction, Housing value

20.

Housing Property Rights, Collateral, and Entrepreneurship: Evidence from China

Posted: 15 May 2017
Konkuk University - Department of Real Estate Studies, Southwestern University of Finance and Economics, Sichuan University - School of Economics, Georgia State University - J. Mack Robinson College of Business and Hong Kong Baptist University (HKBU) - Department of Finance and Decision Sciences

Abstract:

Property rights, homeownership, entrepreneurship, collateral channel

21.

Cognitive Reference Points, the Left-Digit Effect, and Clustering in Housing Markets

Georgia Tech Scheller College of Business Research Paper No. 17-22
Number of pages: 45 Posted: 09 May 2017 Last Revised: 08 Aug 2017
Sudheer Chava and Vincent W. Yao
Georgia Institute of Technology - Scheller College of Business and Georgia State University - J. Mack Robinson College of Business
Downloads 0 (325,371)

Abstract:

Left-digit effects, Real estate, Financial sophistication

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 W. Yao
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 0 (319,689)

Abstract:

Mortgage Choice; Broker; Contracts; Reverse Mortgages

23.

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
Jeffrey P. Cohen, Cletus C. Coughlin and Vincent W. 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 0 (428,746)

Abstract:

24.

Credit Expansion, Competition, and House Prices

Number of pages: 45 Posted: 03 Sep 2016 Last Revised: 17 Nov 2016
Xudong An and Vincent W. Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia and Georgia State University - J. Mack Robinson College of Business
Downloads 0 (373,337)

Abstract:

Conforming loan limit; credit supply; financial crisis

25.

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 W. Yao
Federal Reserve Board, Independent and Georgia State University - J. Mack Robinson College of Business
Downloads 0 (405,015)

Abstract:

Mistakes; Mortgages; Couples

26.

Asymmetric Information and Subprime Mortgage Default

Number of pages: 34 Posted: 15 Nov 2015
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 0 (271,436)

Abstract:

excess premium, soft information, adverse selection, subprime mortgage

27.

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 W. Yao
Georgetown University - Department of Finance, Pennsylvania State University and Georgia State University - J. Mack Robinson College of Business
Downloads 0 (311,371)

Abstract:

Steering, Securitization, Banking Deregulation, Insurance

28.

Housing Tenure and Mortgage Choice

Journal of Real Estate Finance and Economics, Vol. 42, No. 2, pp 162-180, 2011
Posted: 01 Feb 2009 Last Revised: 30 Sep 2011
Federal National Mortgage Association (Fannie Mae), California State University at Fullerton, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business

Abstract:

mortgage contract, housing tenure

29.

Home Equity Extraction by Homeowners: 2000-2006

Journal of Real Estate Research, 2009
Posted: 01 Feb 2009
California State University at Fullerton, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business

Abstract:

Cash our refinance, equity extraction

30.

Transportation Investment and Economic Development

Annals of Regional Science, Vol. 42, No. 3, 2008
Posted: 03 Sep 2008 Last Revised: 17 Sep 2010
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

Abstract:

Transportation investment, Economic development

31.

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 W. 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

Abstract:

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

32.

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 W. Yao
German Institute for Economic Research (DIW Berlin) and Georgia State University - J. Mack Robinson College of Business

Abstract:

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

33.

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 W. Yao and Brian W. Sloboda
Georgia State University - J. Mack Robinson College of Business and affiliation not provided to SSRN

Abstract:

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