Atif Mian
Biographic Data
| ID | 3960635 |
|---|---|
| NAME | Atif Mian |
| GIVEN NAMES | Atif |
| FAMILY NAME | Mian |
| SIGNATURE | MIAN A |
| AFFILIATIONS | Princeton University |
| VERIFIED | No |
| TOTAL WORKS | 10 |
| TOTAL CITATIONS | 15 |
| WORKS AS AUTHOR | 10 |
| WORKS AS EDITOR | 0 |
| FIRST PUBLICATION YEAR | 2009 |
| LATEST PUBLICATION YEAR | 2023 |
| H-INDEX | 2 |
Partisan Bias, Economic Expectations, and Household Spending
The well-documented rise in political polarization among the U.S. electorate over the past 20 years has been accompanied by a substantial increase in the effect of partisan bias on survey-based measures of economic expectations. Individuals have a more optimistic view on future economic conditions when they are more closely affiliated with the party that controls the White House, and this tendency has increased significantly over time. Individual…
Finance and Business Cycles
What is the role of the financial sector in explaining business cycles? This question is as old as the field of macroeconomics, and an extensive body of research conducted since the Global Financial Crisis of 2008 has offered new answers. The specific idea put forward in this article is that expansions in credit supply, operating primarily through household demand, have been an important driver of business cycles. We call this the credit-driven h…
Introduction
Atif Mian, Howard Rosenthal, Introduction: Big Data in Political Economy, RSF: The Russell Sage Foundation Journal of the Social Sciences, Vol. 2, No. 7, Big Data in Political Economy (November 2016), pp. 1-10
RSF
What Explains the 2007-2009 Drop in Employment?
We show that deterioration in household balance sheets, or the housing net worth channel, played a significant role in the sharp decline in U.S. employment between 2007 and 2009. Counties with a larger decline in housing net worth experience a larger decline in non-tradable employment. This result is not driven by industry-specific supply-side shocks, exposure to the construction sector, policy-induced business uncertainty, or contemporaneous cre…
Population Exchange and its Impact on Literacy, Occupation and Gender – Evidence from the Partition of India
How do large scale, involuntary migrations and population exchanges affect sending and receiving communities? We examine the case of the partition of India in which approximately 17 million people moved within four years, resulting in one of the largest and most rapid population exchanges in human history. We find large effects due to the migration on a district's educational, occupational, and gender composition. Due to higher education levels a…
Household Balance Sheets, Consumption, and the Economic Slump
We investigate the consumption consequences of the 2006–9 housing collapse using the highly unequal geographic distribution of wealth losses across the United States. We estimate a large elasticity of consumption with respect to housing net worth of 0.6 to 0.8, which soundly rejects the hypothesis of full consumption risk-sharing. The average marginal propensity to consume (MPC) out of housing wealth is 5–7 cents with substantial heterogeneity ac…
The Political Economy of the Subprime Mortgage Credit Expansion
We examine how special interests, measured by campaign contributions from the mortgage industry, and constituent interests, measured by the share of subprime borrowers in a congressional district, may have influenced U.S. government policy toward subprime mortgage credit expansion from 2002 to 2007. Beginning in 2002, mortgage industry campaign contributions increasingly targeted U.S. representatives from districts with a large fraction of subpri…
House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis
Borrowing against the increase in home equity by existing homeowners was responsible for a significant fraction of the rise in US household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Instrumental variables estimation shows that homeowners extracted 25 cents for every dollar increase in home equity. Home equity–based borrowing was stronger for younger households and households with low credit scores. The evidence su…
The Consequences of Mortgage Credit Expansion
We conduct a within-county analysis using detailed ZIP code—level data to document new findings regarding the origins of the biggest financial crisis since the Great Depression. The sharp increase in mortgage defaults in 2007 is significantly amplified in subprime ZIP codes, or ZIP codes with a disproportionately large share of subprime borrowers as of 1996. Prior to the default crisis, these subprime ZIP codes experience an unprecedented relativ…
The Political Economy of the Subprime Mortgage Credit Expansion
We examine how special interests, measured by campaign contributions from the mortgage industry, and constituent interests, measured by the share of subprime borrowers in a congressional district, may have influenced U.S. government policy toward subprime mortgage credit expansion from 2002 to 2007. Beginning in 2002, mortgage industry campaign contributions increasingly targeted U.S. representatives from districts with a large fraction of subpri…
Population Exchange and its Impact on Literacy, Occupation and Gender – Evidence from the Partition of India
How do large scale, involuntary migrations and population exchanges affect sending and receiving communities? We examine the case of the partition of India in which approximately 17 million people moved within four years, resulting in one of the largest and most rapid population exchanges in human history. We find large effects due to the migration on a district's educational, occupational, and gender composition. Due to higher education levels a…
Finance and Business Cycles
What is the role of the financial sector in explaining business cycles? This question is as old as the field of macroeconomics, and an extensive body of research conducted since the Global Financial Crisis of 2008 has offered new answers. The specific idea put forward in this article is that expansions in credit supply, operating primarily through household demand, have been an important driver of business cycles. We call this the credit-driven h…
Introduction
Atif Mian, Howard Rosenthal, Introduction: Big Data in Political Economy, RSF: The Russell Sage Foundation Journal of the Social Sciences, Vol. 2, No. 7, Big Data in Political Economy (November 2016), pp. 1-10
The Consequences of Mortgage Credit Expansion
We conduct a within-county analysis using detailed ZIP code—level data to document new findings regarding the origins of the biggest financial crisis since the Great Depression. The sharp increase in mortgage defaults in 2007 is significantly amplified in subprime ZIP codes, or ZIP codes with a disproportionately large share of subprime borrowers as of 1996. Prior to the default crisis, these subprime ZIP codes experience an unprecedented relativ…
House Prices, Home Equity–Based Borrowing, and the US Household Leverage Crisis
Borrowing against the increase in home equity by existing homeowners was responsible for a significant fraction of the rise in US household leverage from 2002 to 2006 and the increase in defaults from 2006 to 2008. Instrumental variables estimation shows that homeowners extracted 25 cents for every dollar increase in home equity. Home equity–based borrowing was stronger for younger households and households with low credit scores. The evidence su…
Household Balance Sheets, Consumption, and the Economic Slump
We investigate the consumption consequences of the 2006–9 housing collapse using the highly unequal geographic distribution of wealth losses across the United States. We estimate a large elasticity of consumption with respect to housing net worth of 0.6 to 0.8, which soundly rejects the hypothesis of full consumption risk-sharing. The average marginal propensity to consume (MPC) out of housing wealth is 5–7 cents with substantial heterogeneity ac…
The Political Economy of the Subprime Mortgage Credit Expansion
We examine how special interests, measured by campaign contributions from the mortgage industry, and constituent interests, measured by the share of subprime borrowers in a congressional district, may have influenced U.S. government policy toward subprime mortgage credit expansion from 2002 to 2007. Beginning in 2002, mortgage industry campaign contributions increasingly targeted U.S. representatives from districts with a large fraction of subpri…
What Explains the 2007-2009 Drop in Employment?
We show that deterioration in household balance sheets, or the housing net worth channel, played a significant role in the sharp decline in U.S. employment between 2007 and 2009. Counties with a larger decline in housing net worth experience a larger decline in non-tradable employment. This result is not driven by industry-specific supply-side shocks, exposure to the construction sector, policy-induced business uncertainty, or contemporaneous cre…
Population Exchange and its Impact on Literacy, Occupation and Gender – Evidence from the Partition of India
How do large scale, involuntary migrations and population exchanges affect sending and receiving communities? We examine the case of the partition of India in which approximately 17 million people moved within four years, resulting in one of the largest and most rapid population exchanges in human history. We find large effects due to the migration on a district's educational, occupational, and gender composition. Due to higher education levels a…
Introduction
Atif Mian, Howard Rosenthal, Introduction: Big Data in Political Economy, RSF: The Russell Sage Foundation Journal of the Social Sciences, Vol. 2, No. 7, Big Data in Political Economy (November 2016), pp. 1-10
RSF
Finance and Business Cycles
What is the role of the financial sector in explaining business cycles? This question is as old as the field of macroeconomics, and an extensive body of research conducted since the Global Financial Crisis of 2008 has offered new answers. The specific idea put forward in this article is that expansions in credit supply, operating primarily through household demand, have been an important driver of business cycles. We call this the credit-driven h…
Partisan Bias, Economic Expectations, and Household Spending
The well-documented rise in political polarization among the U.S. electorate over the past 20 years has been accompanied by a substantial increase in the effect of partisan bias on survey-based measures of economic expectations. Individuals have a more optimistic view on future economic conditions when they are more closely affiliated with the party that controls the White House, and this tendency has increased significantly over time. Individual…
Economics (9 works) · Housing Market and Economics (7 works) · Demographic economics (4 works) · Financial crisis (4 works) · Housing, Finance, and Neoliberalism (4 works) · Labour economics (4 works) · Macroeconomics (4 works) · Political science (4 works) · Financial Literacy, Pension, Retirement Analysis (3 works) · Monetary economics (3 works)