
John Krainer
Research Advisor
Financial Research
Banking, Real estate, Mortgage markets
Working Papers
Safe Collateral, Arm’s-Length Credit: Evidence from the Commercial Real Estate Market
2017-19 | With Black and Nichols | September 2017
abstract (+)De-leveraging or de-risking? How banks cope with loss
2017-03 | With Bidder and Shapiro | November 2017
abstract (+)Aggregation Level in Stress Testing Models
2015-14 | With Hale and McCarthy | September 2015
abstract (+)Did Consumers Want Less Debt? Consumer Credit Demand Versus Supply in the Wake of the 2008-2009 Financial Crisis
2014-08 | With Gropp and Laderman | February 2014
abstract (+)Housing Supply and Foreclosures
2012-20 | With Hedberg | September 2012
abstract (+)Prepayment and Delinquency in the Mortgage Crisis Period
2011-25 | With Laderman | September 2011
abstract (+)Mortgage Default and Mortgage Valuation
2009-20 | With LeRoy and O | September 2009
abstract (+)Subprime Mortgage Delinquency Rates
2007-33 | With Doms and Furlong | November 2007
abstract (+)Regional Economic Conditions and the Variability of Rates of Return in Commercial Banking
2007-21 | With Furlong | September 2007
abstract (+)Innovations in Mortgage Markets and Increased Spending on Housing
2007-05 | With Doms | July 2007
abstract (+)Mortgages as Recursive Contracts
2003-03 | With Marquis | September 2004
abstract (+)Published Articles (Refereed Journals and Volumes)
Welfare Consequences of ATM Surcharges
Forthcoming in RAND Journal of Economics | With Gowrisankaran
abstract (+)From Origination to Renegotiation: A Comparison of Portfolio and Securitized Commercial Real Estate Loans
Journal of Real Estate Finance and Economics 55(1), July 2017, 1-31 | With Black and Nichols
abstract (+)Evidence and Implications of Regime Shifts: Time-Varying Effects of the United States and Japanese Economies on House Prices in Hawaii
Real Estate Economics 41(3), September 2013, 449-480
abstract (+)Mortgage Loan Securitization and Relative Loan Performance
Journal of Financial Services Research, February 2013 | With Laderman
abstract (+)Asset Price Persistance and Real Estate Market Illiquidity: Evidence from Japanese Land Values
Real Estate Economics 38(2), December 2010, 171-196 | With Spiegel and Yamori
abstract (+)Estimating Static Models of Strategic Interactions
Journal of Business and Economic Statistics 28 (4), 2010, 469-482 | With Bajari, Hong, and Nekipelov
abstract (+)Using Securities Market Information for Bank Supervisory Monitoring
International Journal of Central Banking 4(1), March 2008, 125-164 | With Lopez
abstract (+)Regional Economic Conditions and Aggregate Bank Performance
In Research in Finance, 24, ed. by A. Chen | Bingley, UK: Emerald Group Publishing, 2008. 103-127 | With Daly and Lopez
abstract (+)House Prices and Consumer Welfare
Journal of Urban Economics 58(3), 2005, 474-487 | With Bajari and Benkard
abstract (+)Incorporating Equity Market Information into Supervisory Monitoring Models
Journal of Money, Credit, and Banking 36(6), December 2004, 1043-1067 | With Lopez
abstract (+)Forecasting Supervisory Ratings Using Securities Market Information
In Corporate Governance: Implications for Financial Services Firms. The 39th Annual Conference on Bank Structure and Financial Services Firms | Chicago: FRB Chicago, 2003 | With Lopez
abstract (+)Equilibrium Valuation of Illiquid Assets
Economic Theory 19(2), January 2002, 223-242 | With LeRoy
abstract (+)A Theory of Liquidity in Residential Real Estate Markets
Journal of Urban Economics 49(1), January 2001, 32-53
abstract (+)FRBSF Publications
How Do Banks Cope with Loss?
Economic Letter 2018-02 | January 22, 2018 | With Bidder and Shapiro
Aggregation in Bank Stress Tests
Economic Letter 2016-14 | May 2, 2016 | With Hale
Housing Market Headwinds
Economic Letter 2014-32 | November 3, 2014 | With McCarthy
The Slowdown in Existing Home Sales
Economic Letter 2014-15 | May 19, 2014
Why Are Housing Inventories Low?
Economic Letter 2013-31 | October 21, 2013 | With Hedberg
Commercial Real Estate and Low Interest Rates
Economic Letter 2013-12 | April 22, 2013
Credit Access Following a Mortgage Default
Economic Letter 2012-32 | October 29, 2012 | With Hedberg
Consumer Debt and the Economic Recovery
Economic Letter 2012-25 | August 20, 2012
Fluctuating Fortunes and Hawaiian House Prices
Economic Letter 2011-38 | December 19, 2011 | With Wilcox
Cap Rates and Commercial Property Prices
Economic Letter 2011-29 | September 19, 2011 | With Hobijn and Lang
When Will Residential Construction Rebound?
Economic Letter 2011-23 | July 25, 2011 | With Hedberg
Risky Mortgages and Mortgage Default Premiums
Economic Letter 2010-38 | December 20, 2010 | With LeRoy
Underwater Mortgages
Economic Letter 2010-31 | October 18, 2010 | With LeRoy
Mortgage Prepayments and Changing Underwriting Standards
Economic Letter 2010-22 | July 19, 2010 | With Hedberg
Mortgage Choice and the Pricing of Fixed-Rate and Adjustable-Rate Mortgages
Economic Letter 2010-03 | February 1, 2010
Recent Developments in Mortgage Finance
Economic Letter 2009-33 | October 26, 2009
House Prices and Bank Loan Performance
Economic Letter 2009-06 | February 6, 2009
Do Supervisory Rating Standards Change Over Time?
Economic Review | 2009 | With Lopez
Falling House Prices and Rising Time on the Market
Economic Letter 2008-11 | March 21, 2008
Regional Economic Conditions and Community Bank Performance
Economic Letter 2007-22 | July 27, 2007 | With Furlong
House Prices and Subprime Mortgage Delinquencies
Economic Letter 2007-14 | June 8, 2007 | With Doms and Furlong
Mortgage Innovation and Consumer Choice
Economic Letter 2006-38 | December 29, 2006
Residential Investment over the Real Estate Cycle
Economic Letter 2006-15 | June 30, 2006
Bank ATMs and ATM Surcharges
Economic Letter 2005-36 | December 16, 2005 | With Gowrisankaran
Housing Markets and Demographics
Economic Letter 2005-21 | August 26, 2005
What Determines the Credit Spread?
Economic Letter 2004-36 | December 10, 2004
House Prices and Fundamental Value
Economic Letter 2004-27 | October 1, 2004 | With Wei
The Current Strength of the U.S. Banking Sector
Economic Letter 2003-37 | December 19, 2003 | With Lopez
Monitoring Debt Market Information for Bank Supervisory Purposes
Economic Letter 2003-35 | November 28, 2003 | With Lopez
Mortgage Refinancing
Economic Letter 2003-29 | October 3, 2003 | With Marquis
House Price Bubbles
Economic Letter 2003-06 | March 7, 2003
Using Equity Market Information to Monitor Banking Institutions
Economic Letter 2003-01 | January 24, 2003 | With Lopez
How Might Financial Market Information Be Used for Supervisory Purposes?
Economic Review | 2003 | With Lopez
Stock Market Volatility
Economic Letter 2002-32 | October 25, 2002
Off-Site Monitoring of Bank Holding Companies
Economic Letter 2002-15 | May 17, 2002 | With Lopez
House Price Dynamics and the Business Cycle
Economic Letter 2002-13 | May 3, 2002
Banking and the Business Cycle
Economic Letter 2001-30 | October 26, 2001
Natural Vacancy Rates in Commercial Real Estate Markets
Economic Letter 2001-27 | October 5, 2001
Retail Sweeps and Reserves
Economic Letter 2001-02 | January 26, 2001
Tech Stocks and House Prices in California
Economic Letter 2000-27 | September 15, 2000 | With Furlong
REITs and the Integration between Capital Markets and Real Estate Markets
Economic Letter 2000-02 | January 28, 2000