Abdullah Yavas’s research while affiliated with University of Wisconsin–Madison and other places

... A robust financial sector is of paramount importance to the United States, which is the world's preeminent emerging nation. The insurance industry, trust sector, and stock market in this country are substantially less developed than those in Europe or China, which is why this is significant (Kim & Sohn, 2024;Yavas & Zhu, 2024). The primary goal of banks is to finance capital expenditures, investments, and consumption by accumulating deposits and granting loans to individuals, organizations, and governments. ...

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Investigating Factors Affecting Loan Loss Reserves in the US Financial Sector: A Dynamic Panel Regression Analysis with Fixed-Effects Models

... It should be emphasized that flipping is recognized worldwide [3]. Researchers describe it as a negative phenomenon for the real estate market [4], and some even consider it to be on the verge of illegal activity [5]. On the other hand, it is important to remember the freedom of trade in market economies and the possibility of shortterm investments in the real estate market (which absolutely cannot be equated with an undesirable phenomenon) [6]. ...

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Housing Stocks of Polish Counties during Period of 2010-2022: Prism of Quantitative and Qualitative Changes after Taking Context of Flipping into Account

... An increased understanding of valuation and loss-given defaults can explain the differences in mortgage lending losses and one of the mechanisms behind the informational asymmetry between banks and investors. Such biases between banks and investors contribute to significant losses in securitized mortgage lending portfolios (Higgins et al., 2022). ...

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Mortgage Lending Valuation Bias Under Housing Price Changes and Loan-to-value Regulations

... Studies on global warming have examined its influence on the frequency and intensity of extreme weather events, such as hurricanes (Bender et al., 2010), and the spatial implications of global warming, considering factors such as geography, migration, trade, and economic activity (Desmet & Rossi-Hansberg, 2015). Research on hurricanes has found lower market values for houses in floodplains and significant price discounts after major hurricane events (Ellen & Meltzer, 2024;Fang et al., 2023;McKenzie & Levendis, 2010). The impact of hurricanes on commercial real estate has also been examined, showing significant effects on value and return, varying by property type and persisting for several years after the event (Addoum et al., 2024; Perceptions of Climate Change and the Pricing of Disaster Risk… ...

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Perceptions of Climate Change and the Pricing of Disaster Risk in Commercial Real Estate

... Furthermore, as professionally managed listed firms, REITs are also subject to intense scrutiny and traded by a variety of investor types (Gupta & Van Nieuwerburgh, 2021;Sagi, 2021). Although the lack of high-frequency, transaction-based, price movements in private CRE markets prevents the detection of portfolio valuation changes in "real time," we argue that the effects of actual and expected future climate events we observe in the highly liquid REIT market are indicative of the effects occurring in the much larger private CRE market (Fan & Yavas, 2023). 3 We begin by providing a conceptual framework for understanding the potential effects of historical climate events, as well as assessments of future climate risk/events, on the stock prices and returns of listed REITs. ...

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Climate change and commercial property markets

... Communities with more people donating are better communities. Abundant social capital in a community is linked to improved intergenerationally mobility (Chetty et al. (2014)), more innovations (Hasan et al. (2020)), lower mortgage delinquency rates (Li et al. (2020)), and fewer infections during the COVID-19 pandemic (Makridis and Wu (2021)). Our study documents a positive relationship between homeownership and the likelihood to donate, a crucial indicator of social capital. ...

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Does Owning a Home Make Us More Generous?

... A real estate agent working with a landlord may face an incentive to complete a rental listing agreement with little effort as possible. Emmerling et al. (2020) show that a low list price can increase the arrival of bids for a property for sale. Hence, a real estate agent could quickly and perhaps effortlessly complete a rental transaction by advising a less informed landlord to underprice a rental property. ...

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Is there a Principal-Agency Problem with Real Estate Agents in Rental Markets?

... According to economic theory, the price level is the result of the actions of the demand and supply sides operating in the market. Market players' actions, over a long period, lead to the achievement of an equilibrium point in the real estate market, which, at least from a theoretical point of view, establishes the market equilibrium price (Fan et al., 2019;Ionașcu et al., 2019;Łaszek et al., 2016;Tsai, 2019). In economic theory, the issue seems simple and easy to model; however, due to its key role in the economy, the residential real estate market is often monitored by the government. ...

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Impact of the Volume of Developer Housing Units on Real Estate Prices in Poland: Correlation and Coherence Analysis

... Flood et al. (1999) conjecture that dealers' search costs may make them adopt more aggressive pricing strategies. More closely related to our work is Yavaş (1993), which investigates the effects of search costs on bid-ask spreads. He finds that bid-ask spreads decline as search intensities rise (due to lower search costs or higher efficiency of search, etc.). ...

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A Comparison of Centralized and Fragmented Markets with Costly Search

... The primary variable of interest is consumer debt, and we hypothesize that a higher level of debt is associated with higher exposure to poverty. 3 We argue that while those who are borrowing in the current period may not necessarily be poor, they may be increasingly exposed to poverty in subsequent periods. As a potential mechanism, a higher level of current debt can impede one's ability to save for future consumption, emergencies, investments, and/or retirement, thereby leaving them exposed to unexpected future expenses and/or economic downturns (Fan and Yavas 2020). Additionally, the opportunity cost of servicing high-interest debt, instead of saving, limits the accumulation of wealth. ...

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Skating on thin ice? Exposure to poverty among Canadians