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About 2017 Economics Roy Dissertation
This dissertation examines the securitization of student loans, including government guaranteed and private student loans. The first chapter documents near-arbitrage opportunities in the market for student loan asset-backed securities (SLABS) during the 2007-2009 financial crisis, finding underpricing of up to 22% relative to Treasuries. The second chapter analyzes whether risks from unprecedented macroeconomic events could explain the SLABS underpricing and finds they explain at most 25% of pricing gaps. The third chapter empirically analyzes adverse selection in private student loan ABS, finding issuers could increase pool losses by 6-36% while matching disclosed characteristics, indicating disclosure is insufficient to prevent selection of underperforming loans. Overall, the dissertation contributes new
Detailed Information
Author: | ['Kushagra Singh'] |
---|---|
Publication Year: | 2019 |
Pages: | 142 |
Language: | English |
Format: | |
Price: | FREE |
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