Vincent W. Yao

Georgia State University - J. Mack Robinson College of Business

35 Broad Street

Atlanta, GA 30303-3083

United States

SCHOLARLY PAPERS

36

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6,007

CITATIONS
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Top 6,903

in Total Papers Citations

81

Scholarly Papers (36)

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 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 841 (27,396)
Citation 97

Abstract:

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Foreclosure, Contagion

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 806 (28,569)
Citation 5

Abstract:

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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
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 (552,392)

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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
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 672 (36,708)
Citation 2

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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
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 13 (578,466)
Citation 10

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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 W. 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 607 (42,624)
Citation 67

Abstract:

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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 W. Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 401 (71,635)
Citation 17

Abstract:

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

6.
Downloads 270 (111,477)
Citation 13

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
National University of Singapore, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 154 (189,308)
Citation 6

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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 W. Yao
National University of Singapore, Federal Reserve Bank of Chicago - Economic Research and Georgia State University - J. Mack Robinson College of Business
Downloads 116 (237,354)
Citation 19

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

7.

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 258 (116,875)
Citation 10

Abstract:

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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
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 163 (180,322)
Citation 2

Abstract:

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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 W. Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 66 (339,947)

Abstract:

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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 W. Yao
National University of Singapore, Ohio State University (OSU) - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 8 (612,493)
Citation 22

Abstract:

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Second Chance: Life without Student Debt

Number of pages: 58 Posted: 26 Apr 2019 Last Revised: 30 Jun 2019
Marco Di Maggio, Ankit Kalda and Vincent W. Yao
Harvard Business School, Indiana University - Kelley School of Business - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 218 (137,913)

Abstract:

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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 W. Yao
Harvard Business School, Indiana University - Kelley School of Business - Department of Finance and Georgia State University - J. Mack Robinson College of Business
Downloads 10 (598,824)
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Abstract:

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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 W. Yao
National University of Singapore, Pennsylvania State University and Georgia State University - J. Mack Robinson College of Business
Downloads 197 (152,113)
Citation 9

Abstract:

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mortgages, valuation, financial crisis, regulations, appraisal bias

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

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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 W. 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 186 (160,341)
Citation 8

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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
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 176 (168,493)
Citation 3

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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 W. Yao
National University of Singapore, National University of Singapore (NUS) and Georgia State University - J. Mack Robinson College of Business
Downloads 126 (222,033)
Citation 1

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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 W. 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 124 (224,723)
Citation 1

Abstract:

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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
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 102 (258,526)
Citation 2

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Gender Difference, Economic Power, Mortgage Application, Household Finance

17.

Collateral Pledge, Sunk-Cost Fallacy and Mortgage Default

Number of pages: 37 Posted: 07 Jun 2014 Last Revised: 11 Aug 2014
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 94 (272,711)
Citation 8

Abstract:

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

18.

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
National University of Singapore, Pennsylvania State University and Georgia State University - J. Mack Robinson College of Business
Downloads 90 (280,390)
Citation 5

Abstract:

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Steering, Securitization, Banking Deregulation, Insurance

19.

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 89 (282,400)

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excess premium, soft information, adverse selection, subprime mortgage

20.

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 North Carolina (UNC) at Chapel Hill - Finance Area and Georgia State University - J. Mack Robinson College of Business
Downloads 70 (325,376)

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Mortgage Choice; Broker; Contracts; Reverse Mortgages

21.

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 66 (335,791)
Citation 2

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Conforming loan limit; credit supply; financial crisis

22.

The Political Economy of Loan Modification

Number of pages: 47 Posted: 29 May 2018
Sumit Agarwal, Kristopher Gerardi and Vincent W. Yao
National University of Singapore, Federal Reserve Bank of Atlanta and Georgia State University - J. Mack Robinson College of Business
Downloads 65 (338,488)

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

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 Last Revised: 17 Jul 2019
Jeffrey 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 49 (386,945)
Citation 1

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24.

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 W. Yao
National University of Singapore, National University of Singapore (NUS) and Georgia State University - J. Mack Robinson College of Business
Downloads 46 (397,350)
Citation 2

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

25.

Is the Wife a Risk Mitigator? Evidence from Family Firms in China

Number of pages: 50 Posted: 20 Nov 2018
Yue Pan, Jinli Xiao, Vincent W. 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 38 (427,269)

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Gender, risk taking, family firm

26.

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 37 (431,338)
Citation 1

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

27.

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 34 (443,693)

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Mistakes; Mortgages; Couples

28.
Downloads 26 (481,774)
Citation 20

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 16 (558,666)
Citation 36

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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 10 (598,824)

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

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 W. 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 25 (487,241)

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AR-GARCH Model, Comovements, House Price Index

30.

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
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 (532,825)
Citation 2

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Ownership restriction, Housing value

31.

Fintech Borrowers: Lax-Screening or Cream-Skimming?

Posted: 16 Aug 2018 Last Revised: 15 Feb 2019
Marco Di Maggio and Vincent W. 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

32.

Home Equity Extraction by Homeowners: 2000-2006

Journal of Real Estate Research, 2009
Posted: 01 Feb 2009
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

33.

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

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Transportation investment, Economic development

34.

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

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

35.

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

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

36.

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

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