Amir Hosein Meimand Kermani

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Do households bene…t from expansionary monetary policy? We investigate how indebted households' consumption and saving decisions are a¤ected by anticipated changes in monthly interest payments. We focus on borrowers with adjustable rate mortgages originated between 2005 and 2007 featuring an automatic reset of the interest rate after …ve years. The monthly(More)
The announcement of Timothy Geithner as nominee for Treasury Secretary in November 2008 produced a cumulative abnormal return for …nancial …rms with which he had a prior connection. This return was about 6% after the …rst full day of trading and about 12% after ten trading days. There were subsequently abnormal negative returns for connected …rms when news(More)
Website usability and link structure analysis has become a major concern for companies, since more online services are going to be offered through websites. While different usability assessment methods has been proposed and used in the previous studies, we use Graph theory definitions to model the website. The paper then discusses the extension of(More)
Can a credit expansion induce a boom and bust in house prices and real economic activity? This paper exploits the federal preemption of national banks from local laws against predatory lending to gauge the e¤ect of the supply of credit on the real economy. Speci…cally, we exploit the heterogeneity in the market share of national banks across counties in(More)
This paper examines the asset-pricing implications of nominal rigidities. I find that firms that adjust their product prices infrequently earn a cross-sectional return premium of more than 4% per year. Merging confidential product price data at the firm level with stock returns, I document that the premium for sticky-price firms is a robust feature of the(More)
Does reducing the skin‐in‐the‐game of informed agents matter for the performance of securitized assets? In the conduit commercial mortgage backed securities (CMBS) market, an informed investor purchases the bottom five percent of the capital structure, known as the B‐piece, conducting independent screening of loans from which all other investors benefit.(More)
Despite massive large-scale asset purchases (LSAPs) by central banks around the world since the global financial crisis, there is a lack of empirical evidence on whether and how the composition of purchased assets matters for the pass through of unconventional monetary policy. Using rich mortgage-market data, we document that there is a " flypaper effect "(More)
The present paper studies the impact of a housing bust on regional labor reallocation and the labor market. I document a novel empirical fact, which suggests that, by increasing the fraction of households with negative housing equity, a housing bust hinders interregional mobility. I then study a multi-region economy with local labor and housing markets and(More)