|کد مقاله||سال انتشار||مقاله انگلیسی||ترجمه فارسی||تعداد کلمات|
|92641||2017||43 صفحه PDF||سفارش دهید||10723 کلمه|
Publisher : Elsevier - Science Direct (الزویر - ساینس دایرکت)
Journal : Journal of Economics and Business, Volume 93, SeptemberâOctober 2017, Pages 29-45
Although a growing literature has analyzed the determinants of non-performing loans (henceforth NPLs), very few studies have explored the issue at the disaggregate level. Such an analysis unmasks important differences in the inter-relationships between macroeconomic and balance sheet conditions and different categories of NPLs. The present study examines sector-specific NPLs in the US using data for the 100 largest commercial banks over the period 1992q4-2016q1. While total NPLs remain sensitive to different balance sheet and US macroeconomic conditions, this is most accentuated for real estate loans and its different constituent categories, and commercial & industrial loans. The paper further explores the impact of NPLs on sector-specific product and labor markets. Total NPLs have the most pronounced effect on US housing prices, real GDP growth and housing starts. At the disaggregate level, non-performing construction & land development and C&I loans have the most persistent pernicious impact on corresponding sector-specific employment growth.