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Bad loans in the meltdown: micro analysis of credit union performance versus banks, an initial investigation

  • Klinedinst, Mark
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    The current economic crisis has had a devastating impact in the credit markets as evidenced by bank failures, large bailouts and foreclosures. Trillions of dollars have been spent to prop up the financial sector in the U.S. alone. Credit unions, commercial banks and thrifts are where Americans go for home loans, but credit unions have a very different track record when it has come to bailouts from the government. Credit unions instead of taking trillions may ultimately not take a dime from the taxpayer. This paper will try to discern this advantage that credit unions have by focusing on the direct impact felt by financial institutions in the United States through net charge-offs from 1994 through 2009 using an exceptional data set that combines information on credit unions and banks in the U.S. from 1994 through 2009.

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    File URL: http://mpra.ub.uni-muenchen.de/27434/1/MPRA_paper_27434.pdf
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    Paper provided by University Library of Munich, Germany in its series MPRA Paper with number 27434.

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    Date of creation: 11 Dec 2010
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    Handle: RePEc:pra:mprapa:27434
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    1. Klinedinst, Mark, 2007. "Cooperative comebacks: resilience in the face of the Hurricane Katrina Catastrophe (New Orleans and Southern Mississippi, May 2005–May 2006)," MPRA Paper 28521, University Library of Munich, Germany.
    2. Baltagi, Badi H & Khanti-Akom, Sophon, 1990. "On Efficient Estimation with Panel Data: An Empirical Comparison of Instrumental Variables Estimators," Journal of Applied Econometrics, John Wiley & Sons, Ltd., vol. 5(4), pages 401-06, Oct.-Dec..
    3. Marvin B. Lieberman & Shigeru Asaba, 1997. "Inventory Reduction and Productivity Growth: A Comparison of Japanese and US Automotive Sectors," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 18(2), pages 73-85.
    4. J. A. Hausman & W. E. Taylor, 1980. "Panel Data and Unobservable Individual Effects," Working papers 255, Massachusetts Institute of Technology (MIT), Department of Economics.
    5. Park, Kang H. & Weber, William L., 2006. "Profitability of Korean banks: Test of market structure versus efficient structure," Journal of Economics and Business, Elsevier, vol. 58(3), pages 222-239.
    6. White, Halbert, 1980. "A Heteroskedasticity-Consistent Covariance Matrix Estimator and a Direct Test for Heteroskedasticity," Econometrica, Econometric Society, vol. 48(4), pages 817-38, May.
    7. Fried, Harold O. & Knox Lovell, C. A. & Eeckaut, Philippe Vanden, 1993. "Evaluating the performance of US credit unions," Journal of Banking & Finance, Elsevier, vol. 17(2-3), pages 251-265, April.
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