Souphala Chomsisengphet: Senior Financial Economist

Senior Financial Economist

Souphala Chomsisengphet is Senior Financial Economist in the Credit Risk Analysis Division of the Office of the Comptroller of the Currency (OCC).

Published Works

"Consumer Bankruptcy and Default: The Role of Individual Social Capital," (with Sumit Agarwal and Chunlin Liu), Journal of Economic Psychology, forthcoming.

"The Role of Soft Information in Dynamic Contract Settings: Evidence from the Home Equity Market," (with Sumit Agarwal, Brent Ambrose and Chunlin Liu), Journal of Money, Credit and Banking, forthcoming.

"Loan Commitments and Private Firms," (with Sumit Agarwal and John Driscoll), Federal Reserve Bank of Chicago Economic Prospective, forthcoming.

"Thy Neighbor's Mortgage: Does Living in a Subprime Neighborhood Affect One's Probability of Default?" (with Sumit Agarwal, Brent Ambrose and Anthony Sanders), Real Estate Economics, forthcoming.

"What "Triggers" Mortgage Default" (with Ronel Elul, Nicholas Souleles, Dennis Glennon, Robert Hunt), forthcoming American Economic Review - Papers and Proceeding, 100(2), 2010.

"Learning to Cope: Voluntary Financial Education Programs and the Housing Crisis" (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David, and Douglas Evanoff), forthcoming American Economic Review - Papers and Proceeding, 100(2), 2010.

"The Importance of Adverse Selection in the Credit Card Market: Evidence from Randomized Trial Credit Card Solicitations" (with Sumit Agarwal and Chunlin Liu), forthcoming Journal of Money, Credit and Banking, 2010.

"Role of Personal Bankruptcy Exemption Laws on Mortgage Availability" (with Sumit Agarwal), Cityscape 11(1), 2009, p. 101-112.

"Determinants of Automobile Loan Default and Prepayment" (with Sumit Agarwal and Brent Ambrose), Federal Reserve Bank of Chicago Economic Perspectives, Q3, 2008, p. 17-28.

"Do Forbearance Plans Help Mitigate Credit Card Losses?" (with Sumit Agarwal and Lawrence Mielnicki), Journal of Family and Economic Issues 29(2), 2008, p. 191-209 (Lead article).

"Subprime Refinancing: Equity Extraction and Mortgage Termination" (with Anthony Pennington-Cross), Real Estate Economics 35(2), 2007, p. 233-263.

"Interest Rates in the Subprime Mortgage Market" (with Anthony Pennington-Cross), in Household Credit Usage: Personal Debt and Mortgages, Agarwal, Sumit and Brent Ambrose (eds.), Palgrave-Macmillan Publishing, October, 2007, p. 237-352.

"Information Asymmetry and the Automobile Loan Market" (with Sumit Agarwal and Brent Ambrose), in Household Credit Usage: Personal Debt and Mortgages, Agarwal, Sumit and Brent Ambrose (eds.), Palgrave-Macmillan Publishing, October, 2007, p. 92-116.

"Determinants of Small Business Default" (with Sumit Agarwal and Chunlin Liu), in The Analytics of Risk Model Validation, Christodoulakis, George A. and Stephen E. Satchell (eds.), Elsevier, 2007, p. 1-12.

"Earnings Management Behavior Under Different Economic Environments: Evidence from Japanese Banks" (with Sumit Agarwal, Chunlin Liu, and Ghon S. Rhee), International Review of Economics and Finance, 16(3), 2007, p. 429-443.

"Towards Understanding the Asian Crisis and its Aftermath" (with Magda Kandil), Journal of the Asia Pacific Economy 12(4), 2007, p. 452-484.

"Credit Risk Concentrations in Wholesale Loan Portfolios" (with Steven Burton and Erik Heitfield), Journal of Credit Risk 2(3) (Fall), 2006, p. 3-31.

"Risk-Sensitive Regulatory Capital Rules for Hedged Credit Exposures" (with Steven Burton and Erik Heitfield), in Counterparty Credit Risk Modeling: Pricing, Risk Management and Regulation, Michael Pykhtin, (ed.), London: Risk Waters Group, 2006.

"An Empirical Analysis of Home Equity Loans and Lines Performance" (with Sumit Agarwal, Brent Ambrose, and Chunlin Liu), Journal of Financial Intermediation 15(4), October 2006, p. 444-469.

"Bankruptcy Exemptions, Credit History, and the Mortgage Market" (with Ronel Elul), Journal of Urban Economics, 59(1), January 2006, p. 171-188.

"The Evolution of the Subprime Mortgage Market" (with Anthony Pennington-Cross), St. Louis Fed Review 88:1 (January/February), 2006, p. 31-56.

"The Impact of the 2002 Currency Crisis and Subsequent Economic Policies on the Argentine Mortgage Market" (with Sumit Agarwal and Olivier Hassler), Journal of Housing Economic 14(3), September 2005, p. 242-270.

"Exemption Laws and Small Business Bankruptcy Decision" (with Sumit Agarwal and Chunlin Liu), Southern Economic Journal, 71(3), January 2005, p. 620-635.

Working Papers

"Market-Based Loss Mitigation Practices of Troubled Mortgages Following the Financial Crisis," (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David, and Douglas Evanoff), Fisher College of Business Working Paper No. 2010-03-019, Ohio State.

"The Benefits of Relationship Lending: Empirical Evidence from Consumer Credit Market," (with Sumit Agarwal, Chunlin Liu, and Nicholas Souleles), Working Paper 2010-5, Federal Reserve Bank of Chicago

"Race, Gender and Political Ideology in Personal Bankruptcy Outcomes," (with Sumit Agarwal, Robert McMenamin, and Paige M. Skiba), Vanderbilt Law and Economics Research Paper No. 10-08.

"Financial Counseling, Financial Literacy, and Household Decision Making," (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David, and Douglas Evanoff), Pension Research Council WP 2010-34.

"Do Financial Counseling Mandates Improve Mortgage Choice and Performance? Evidence from a Legislative Experiment" (with Sumit Agarwal, Gene Amromin, Itzhak Ben-David, and Douglas Evanoff), Working Paper 2009-07, Federal Reserve Bank of Chicago.

"Do Consumers Choose the Right Credit Contract?" (with Sumit Agarwal, Chunlin Liu, and Nicholas Souleles), , Working Paper 2006-11, Federal Reserve Bank of Chicago.

Works in Progress

"Is There a Pecking Order of Consumer Default?" (with Sumit Agarwal, Fredrik Andersson, and Dennis Glennon).

"A Competing Risk Model of Default and Prepayment: A Generalized Maximum Entropy Approach" (with Dennis Glennon, Amos Golan, and Hua Kiefer).

"Are Low-to-Medium-Income Borrowers Higher Risk? Evidence from Checking Overdraft Lines,"(with Sumit Agarwal and Chau Do).

"Ex-Post Moral Hazard and Financing Decisions: Do Financial Institutions Exploit Deposit Insurance," (with Itzhak Ben-David, Ajay Palvia, and Chester Spatt).

"Does joint liability lending lead to lower defaults?" (with Sumit Agarwal, Brent Ambrose, and Chunlin Liu).

Other Papers

"Mortgage Product Substitution and State Anti-Predatory Lending Laws: Better Loans and Better Borrowers?" (with Raphael Bostic, Kathleen E. Engel, Patricia A. McCoy, Anthony Pennington-Cross, and Susan Wachter).

"Product Innovations & Mortgage Selection in the Subprime Era" (with Timothy Murphy and Anthony Pennington-Cross).