张云齐为南开大学金融学院长任副教授，研究领域覆盖银行、公司金融、消费金融、住房市场等。其研究成果发表于多个国际顶级期刊，主持国家自然科学基金、教育部人文社科基金等多个科研项目，并担任十数本国际知名期刊评委和多个国际会议评审委员会委员。
文章摘要
We find that mortgage loans originated after the adoption of the inevitable disclosure doctrine (IDD; a mechanism discouraging loan officers’ labor mobility) have a lower default probability, a higher loan modification rate, and a lower foreclosure rate. These effects are unaccompanied by any reduction in loan supply and contribute to more stable housing prices. Using the adoption of the Uniform Trade Secrets Act as an alternative identification generates consistent results. Overall, our findings suggest that restricting loan officers’ labor mobility leads to better ex ante screening and ex post monitoring, improving the origination efficiency for U.S. residential mortgage loans.
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https://www.cambridge.org/core/journals/journal-of-financial-and-quantitative-analysis/article/labor-mobility-and-loan-origination/32848C34DF80D356E97E7DC6B71425AF
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编辑 | 金融学院记者团（新闻中心）
审校 | 朱芷昕
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