Gonzalo Maturana

Journal Article Journal of Urban Economics · September 1, 2024 We examine the effect of real estate owned property rehabilitations on neighboring property prices. We find that house prices around a rehabilitated property increase 2.3 percentage points following the rehabilitation. Moreover, the average rehabilitation ... Full text Cite

How Has COVID-19 Impacted Research Production in Economics and Finance?

Conference Review of Financial Studies · August 1, 2023 Following the onset of COVID-19, research production in economics and finance (measured by the posting of working papers) increased by 29. Production increases were widespread across geographies, job titles, departments, and ages with larger increases in t ... Full text Cite

Agglomeration, knowledge spillovers, and corporate investment

Journal Article Journal of Corporate Finance · December 1, 2022 Agglomeration is positively correlated with productivity and exhibits substantial heterogeneity across industries. Yet, the connection between agglomeration and corporate investment, an important driver of production, remains relatively underexplored. We s ... Full text Cite

What drove the 2003–2006 house price boom and subsequent collapse? Disentangling competing explanations

Journal Article Journal of Financial Economics · September 1, 2021 Ten years after the financial crisis, the central question of what explains the rise and fall in house prices remains unresolved. We provide a unified framework to examine four excess credit supply variables and three speculation variables that have been p ... Full text Cite

Collateral misreporting in the residential mortgage-backed security market

Journal Article Management Science · May 1, 2021 Securitized mortgage appraisals routinely target pre-specified valuations, 45% of purchase loan appraisals exactly equal purchase prices, and appraisals virtually never fall below purchase prices. As a result, appraisals exceed automated valuation model (A ... Full text Cite

Real effects of workers’ financial distress: Evidence from teacher spillovers

Journal Article Journal of Financial Economics · April 1, 2020 This paper studies the effects of financial distress on workers’ productivity, using detailed data from the public school system in Texas. We show that the student passing rate in the median-sized grade decreases by 1.2 percentage points following a declar ... Full text Cite

Teachers Teaching Teachers: The Role of Workplace Peer Effects in Financial Decisions

Journal Article Review of Financial Studies · October 1, 2019 This paper studies the role of workplace peers in the transmission of information pertinent to an important household financial decision: the mortgage refinancing choice. Exploiting commonalities in teaching schedules of school teachers in Texas to identif ... Full text Cite

Do labor markets discipline? Evidence from RMBS bankers

Journal Article Journal of Financial Economics · September 1, 2019 This paper examines whether employees involved in residential mortgage-backed security (RMBS) securitization experienced internal and external labor market consequences relative to similar non-RMBS employees in the same banks and why. Senior RMBS bankers e ... Full text Cite

Personal infidelity and professional conduct in 4 settings.

Journal Article Proceedings of the National Academy of Sciences of the United States of America · August 2019 We study the connection between personal and professional behavior by introducing usage of a marital infidelity website as a measure of personal conduct. Police officers and financial advisors who use the infidelity website are significantly more likely to ... Full text Cite

When are modifications of securitized loans beneficial to investors?

Journal Article Review of Financial Studies · November 1, 2017 Loan modification is widely discussed as an alternative to foreclosure, but little research has focused on quantifying its effect on loan performance. I quantify this effect early in the housing crisis by exploiting exogenous variation in the incentives to ... Full text Cite

Did dubious mortgage origination practices distort house prices?

Journal Article Review of Financial Studies · July 1, 2016 ZIP codes with high concentrations of originators who misreported mortgage information experienced a 75% larger relative increase in house prices from 2003 to 2006 and a 90% larger relative decrease from 2007 to 2012 compared with other ZIP codes. Several ... Full text Cite

Who facilitated misreporting in securitized loans?

Journal Article Review of Financial Studies · February 1, 2016 This paper examines apparent fraud among securitized nonagency loans using three indicators: unreported second liens, owner occupancy misreporting, and appraisal overstatements. We find that around 48% of loans exhibited at least one indicator of misrepres ... Full text Cite

Notice of withdrawal: 'Who Facilitated Misreporting in Securitized Loans?'

Journal Article Journal of Finance · December 1, 2015 The above article, originally classified as an Accepted Article on 6 February 2015 in the Wiley Online Library (wileyonlinelibrary.com), ultimately was not published in The Journal of Finance. ... Full text Cite