{"id":"https://openalex.org/W3083975475","doi":"https://doi.org/10.1093/rfs/hhaa088","title":"Mortgage Securitization and Shadow Bank Lending","display_name":"Mortgage Securitization and Shadow Bank Lending","publication_year":2020,"publication_date":"2020-07-31","ids":{"openalex":"https://openalex.org/W3083975475","doi":"https://doi.org/10.1093/rfs/hhaa088","mag":"3083975475"},"language":"en","primary_location":{"id":"doi:10.1093/rfs/hhaa088","doi":"https://doi.org/10.1093/rfs/hhaa088","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/hhaa088","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Review of Financial Studies","raw_type":"journal-article"},"volume":null,"type":"article","indexed_in":["crossref"],"open_access":{"is_oa":true,"oa_status":"green","oa_url":"https://repositorio.ie.edu/bitstreams/00dad1d3-16a6-4e1b-b0f7-523b6a641e80/download","any_repository_has_fulltext":true},"authorships":[{"author_position":"first","author":{"id":"https://openalex.org/A5027954170","display_name":"Pedro Gete","orcid":"https://orcid.org/0000-0002-6450-7965","observed_orcids":["https://orcid.org/0000-0002-6450-7965"]},"institutions":[{"id":"https://openalex.org/I125068653","display_name":"IE University","ror":"https://ror.org/02jjdwm75","country_code":"ES","type":"education","lineage":["https://openalex.org/I125068653"]}],"countries":["ES"],"is_corresponding":false,"raw_author_name":"Pedro Gete","raw_affiliation_strings":["IE Business School"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"IE Business School","institution_ids":["https://openalex.org/I125068653"]}]},{"author_position":"last","author":{"id":"https://openalex.org/A5019127521","display_name":"Michael Reher","orcid":null,"observed_orcids":[]},"institutions":[{"id":"https://openalex.org/I36258959","display_name":"University of California San Diego","ror":"https://ror.org/0168r3w48","country_code":"US","type":"education","lineage":["https://openalex.org/I36258959"]}],"countries":["US"],"is_corresponding":true,"raw_author_name":"Michael Reher","raw_affiliation_strings":["Rady School of Management, University of California, San Diego"],"raw_orcid":null,"affiliations":[{"raw_affiliation_string":"Rady School of Management, University of California, San Diego","institution_ids":["https://openalex.org/I36258959"]}]}],"institutions":[],"countries_distinct_count":2,"institutions_distinct_count":2,"corresponding_author_ids":["https://openalex.org/A5019127521"],"corresponding_institution_ids":["https://openalex.org/I36258959"],"apc_list":{"value":4028,"currency":"USD","value_usd":4028},"apc_paid":null,"fwci":7.7929,"has_fulltext":true,"cited_by_count":68,"citation_normalized_percentile":{"value":0.97587971,"is_in_top_1_percent":false,"is_in_top_10_percent":true},"cited_by_percentile_year":{"min":89,"max":100},"biblio":{"volume":"34","issue":"5","first_page":"2236","last_page":"2274"},"is_retracted":false,"is_paratext":false,"is_xpac":false,"primary_topic":{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.63919997215271,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},"topics":[{"id":"https://openalex.org/T10127","display_name":"Banking stability, regulation, efficiency","score":0.63919997215271,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T10632","display_name":"Housing Market and Economics","score":0.2379000037908554,"subfield":{"id":"https://openalex.org/subfields/2002","display_name":"Economics and Econometrics"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}},{"id":"https://openalex.org/T14154","display_name":"finance, banking, and market dynamics","score":0.08110000193119049,"subfield":{"id":"https://openalex.org/subfields/2003","display_name":"Finance"},"field":{"id":"https://openalex.org/fields/20","display_name":"Economics, Econometrics and Finance"},"domain":{"id":"https://openalex.org/domains/2","display_name":"Social Sciences"}}],"keywords":[{"id":"https://openalex.org/keywords/mortgage-securitization","display_name":"mortgage securitization","score":0.984000027179718},{"id":"https://openalex.org/keywords/shadow-banking","display_name":"shadow banking","score":0.7429999709129333},{"id":"https://openalex.org/keywords/mortgage-backed-securities","display_name":"mortgage-backed securities","score":0.8149999976158142},{"id":"https://openalex.org/keywords/liquidity-coverage-ratio","display_name":"liquidity coverage ratio","score":0.8989999890327454},{"id":"https://openalex.org/keywords/secondary-market-prices","display_name":"secondary market prices","score":0.6480000019073486},{"id":"https://openalex.org/keywords/lending-standards","display_name":"lending standards","score":0.6990000009536743},{"id":"https://openalex.org/keywords/funding-costs","display_name":"funding costs","score":0.8159999847412109},{"id":"https://openalex.org/keywords/financial-stability","display_name":"financial stability","score":0.8399999737739563},{"id":"https://openalex.org/keywords/homeownership","display_name":"homeownership","score":0.8489999771118164}],"concepts":[{"id":"https://openalex.org/C2780619108","wikidata":"https://www.wikidata.org/wiki/Q852175","display_name":"Securitization","level":2,"score":0.8369378447532654},{"id":"https://openalex.org/C55527203","wikidata":"https://www.wikidata.org/wiki/Q334194","display_name":"Spillover effect","level":2,"score":0.663324236869812},{"id":"https://openalex.org/C183582576","wikidata":"https://www.wikidata.org/wiki/Q184783","display_name":"Market liquidity","level":2,"score":0.6254907846450806},{"id":"https://openalex.org/C144133560","wikidata":"https://www.wikidata.org/wiki/Q4830453","display_name":"Business","level":0,"score":0.6035330295562744},{"id":"https://openalex.org/C2781300812","wikidata":"https://www.wikidata.org/wiki/Q178061","display_name":"Shock (circulatory)","level":2,"score":0.6004430055618286},{"id":"https://openalex.org/C73283319","wikidata":"https://www.wikidata.org/wiki/Q1416617","display_name":"Financial system","level":1,"score":0.588442325592041},{"id":"https://openalex.org/C556758197","wikidata":"https://www.wikidata.org/wiki/Q580018","display_name":"Monetary economics","level":1,"score":0.4661385416984558},{"id":"https://openalex.org/C2777871818","wikidata":"https://www.wikidata.org/wiki/Q25112207","display_name":"Funding liquidity","level":4,"score":0.418438583612442},{"id":"https://openalex.org/C10138342","wikidata":"https://www.wikidata.org/wiki/Q43015","display_name":"Finance","level":1,"score":0.3084794878959656},{"id":"https://openalex.org/C162324750","wikidata":"https://www.wikidata.org/wiki/Q8134","display_name":"Economics","level":0,"score":0.3037285804748535},{"id":"https://openalex.org/C189259953","wikidata":"https://www.wikidata.org/wiki/Q1042259","display_name":"Liquidity risk","level":3,"score":0.21040785312652588},{"id":"https://openalex.org/C175444787","wikidata":"https://www.wikidata.org/wiki/Q39072","display_name":"Microeconomics","level":1,"score":0.0},{"id":"https://openalex.org/C71924100","wikidata":"https://www.wikidata.org/wiki/Q11190","display_name":"Medicine","level":0,"score":0.0},{"id":"https://openalex.org/C126322002","wikidata":"https://www.wikidata.org/wiki/Q11180","display_name":"Internal medicine","level":1,"score":0.0}],"mesh":[],"locations_count":4,"locations":[{"id":"doi:10.1093/rfs/hhaa088","doi":"https://doi.org/10.1093/rfs/hhaa088","is_oa":false,"landing_page_url":"https://doi.org/10.1093/rfs/hhaa088","pdf_url":null,"source":{"id":"https://openalex.org/S170137484","display_name":"Review of Financial Studies","issn_l":"0893-9454","issn":["0893-9454","1465-7368"],"is_oa":false,"is_in_doaj":false,"is_core":true,"listed_in":["abdc-a-star","anvur-class-a","anvur-scientific","cwts-core","erih-plus","fnege-1-star","ft50","jufo-3","norway-2","poland-200","russia-white-list-1","utd24","vabb-shw"],"host_organization":"https://openalex.org/P4310311648","host_organization_name":"Oxford University Press","host_organization_lineage":["https://openalex.org/P4310311648","https://openalex.org/P4310311647"],"host_organization_lineage_names":["Oxford University Press","University of Oxford"],"type":"journal"},"license":null,"license_id":null,"version":"publishedVersion","is_accepted":true,"is_published":true,"raw_source_name":"The Review of Financial Studies","raw_type":"journal-article"},{"id":"pmh:oai:repositorio.ie.edu:20.500.14417/3308","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/20.500.14417/3308","pdf_url":"https://repositorio.ie.edu/bitstreams/00dad1d3-16a6-4e1b-b0f7-523b6a641e80/download","source":{"id":"https://openalex.org/S7407055216","display_name":"IE Repository","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/article"},{"id":"pmh:oai:escholarship.org:ark:/13030/qt6b73g8j7","doi":null,"is_oa":true,"landing_page_url":"https://escholarship.org/uc/item/6b73g8j7","pdf_url":"https://escholarship.org/content/qt6b73g8j7/qt6b73g8j7.pdf?t=qf9ipk","source":{"id":"https://openalex.org/S4306400115","display_name":"eScholarship (California Digital Library)","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I2801248553","host_organization_name":"California Digital Library","host_organization_lineage":["https://openalex.org/I2801248553"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":"Review of Financial Studies, vol 34, iss 5","raw_type":"article"},{"id":"pmh:oai:RePEc:oup:rfinst:v:34:y::i:5:p:2236-2274.","doi":null,"is_oa":false,"landing_page_url":"http://hdl.handle.net/10.1093/rfs/hhaa088","pdf_url":null,"source":{"id":"https://openalex.org/S4306401271","display_name":"RePEc: Research Papers in Economics","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":"https://openalex.org/I77793887","host_organization_name":"Federal Reserve Bank of St. Louis","host_organization_lineage":["https://openalex.org/I77793887"],"host_organization_lineage_names":[],"type":"repository"},"license":null,"license_id":null,"version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"article"}],"best_oa_location":{"id":"pmh:oai:repositorio.ie.edu:20.500.14417/3308","doi":null,"is_oa":true,"landing_page_url":"https://hdl.handle.net/20.500.14417/3308","pdf_url":"https://repositorio.ie.edu/bitstreams/00dad1d3-16a6-4e1b-b0f7-523b6a641e80/download","source":{"id":"https://openalex.org/S7407055216","display_name":"IE Repository","issn_l":null,"issn":null,"is_oa":false,"is_in_doaj":false,"is_core":false,"listed_in":[],"host_organization":null,"host_organization_name":null,"host_organization_lineage":[],"host_organization_lineage_names":[],"type":"repository"},"license":"cc-by-nc-nd","license_id":"https://openalex.org/licenses/cc-by-nc-nd","version":"submittedVersion","is_accepted":false,"is_published":false,"raw_source_name":null,"raw_type":"info:eu-repo/semantics/article"},"sustainable_development_goals":[],"sustainable_development_goals_aurora":[],"study_designs":[],"awards":[],"funders":[],"has_content":{"pdf":true,"grobid_xml":true},"content_urls":{"pdf":"https://content.openalex.org/works/W3083975475.pdf","grobid_xml":"https://content.openalex.org/works/W3083975475.grobid-xml"},"referenced_works_count":48,"referenced_works":["https://openalex.org/W179963684","https://openalex.org/W361380169","https://openalex.org/W1608009123","https://openalex.org/W1926410762","https://openalex.org/W1964317635","https://openalex.org/W1969981733","https://openalex.org/W2006948845","https://openalex.org/W2066526905","https://openalex.org/W2132794516","https://openalex.org/W2168967186","https://openalex.org/W2228070393","https://openalex.org/W2296263695","https://openalex.org/W2465587637","https://openalex.org/W2563902811","https://openalex.org/W2603785580","https://openalex.org/W2620914172","https://openalex.org/W2625987777","https://openalex.org/W2738379616","https://openalex.org/W2762371638","https://openalex.org/W2762967876","https://openalex.org/W2768378180","https://openalex.org/W2787993933","https://openalex.org/W2792157268","https://openalex.org/W2890807135","https://openalex.org/W2943908192","https://openalex.org/W2953325478","https://openalex.org/W2969523927","https://openalex.org/W2984222586","https://openalex.org/W3013675327","https://openalex.org/W3121380054","https://openalex.org/W3121859925","https://openalex.org/W3122496033","https://openalex.org/W3123062684","https://openalex.org/W3123577357","https://openalex.org/W3123971899","https://openalex.org/W3124167266","https://openalex.org/W3124284225","https://openalex.org/W3124617846","https://openalex.org/W3125582373","https://openalex.org/W3125789784","https://openalex.org/W3129226262","https://openalex.org/W3157135879","https://openalex.org/W3166093877","https://openalex.org/W3180365838","https://openalex.org/W4241347215","https://openalex.org/W4256240690","https://openalex.org/W6796073112","https://openalex.org/W6831105476"],"related_works":["https://openalex.org/W2594211417","https://openalex.org/W4292155247","https://openalex.org/W1963067788","https://openalex.org/W2304182098","https://openalex.org/W3097242814","https://openalex.org/W2884497277","https://openalex.org/W2405265680","https://openalex.org/W7070861892","https://openalex.org/W3020985780","https://openalex.org/W4298911677"],"abstract_inverted_index":{"Abstract":[0],"We":[1,18],"show":[2],"how":[3],"securitization":[4],"affects":[5],"the":[6,9,20,28,34,89],"size":[7],"of":[8,30,78],"nonbank":[10],"lending":[11,66],"sector":[12],"through":[13],"a":[14,23],"novel":[15],"price-based":[16],"channel.":[17],"identify":[19],"channel":[21,74],"using":[22],"regulatory":[24,52],"spillover":[25],"shock":[26,40,90],"to":[27,64],"cross-section":[29],"mortgage-backed":[31],"security":[32],"prices:":[33],"U.S.":[35],"liquidity":[36],"coverage":[37],"ratio.":[38],"The":[39],"increases":[41],"secondary":[42],"market":[43,84],"prices":[44,57],"for":[45,76,93],"FHA-insured":[46,71],"loans":[47],"by":[48],"granting":[49],"them":[50,63],"favorable":[51],"status":[53],"once":[54],"securitized.":[55],"Higher":[56],"lower":[58],"nonbanks\u2019":[59,79],"funding":[60],"costs,":[61],"prompting":[62],"loosen":[65],"standards":[67],"and":[68],"originate":[69],"more":[70],"loans.":[72],"This":[73],"accounts":[75],"22%":[77],"growth":[80],"in":[81],"overall":[82],"mortgage":[83],"share":[85],"over":[86],"2013\u20132015.":[87],"While":[88],"creates":[91],"risks":[92],"financial":[94],"stability,":[95],"homeownership":[96],"also":[97],"increases.":[98]},"counts_by_year":[{"year":2026,"cited_by_count":10},{"year":2025,"cited_by_count":8},{"year":2024,"cited_by_count":15},{"year":2023,"cited_by_count":8},{"year":2022,"cited_by_count":14},{"year":2021,"cited_by_count":4},{"year":2020,"cited_by_count":4},{"year":2019,"cited_by_count":1},{"year":2018,"cited_by_count":3},{"year":2013,"cited_by_count":1}],"updated_date":"2026-10-24T09:50:30.924529","created_date":"2020-09-14T00:00:00"}