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Juniorprofessorin Huyen Nguyen, Ph.D.

Juniorprofessorin Huyen Nguyen, Ph.D.
Aktuelle Position

seit 1/20

Leiterin der Forschungsgruppe Risikoverlagerung in Finanzmärkten und nachhaltige Finanzierung

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

seit 10/19

Juniorprofessorin

Friedrich-Schiller-Universität, Jena

seit 10/19

Mitglied der Abteilung Finanzmärkte

Leibniz-Institut für Wirtschaftsforschung Halle (IWH)

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Forschungsschwerpunkte
  • Wohnungsmärkte
  • nachhaltige Finanzierung
  • empirische Bankenforschung
  • Finanzökonomik

Huyen Nguyen ist seit Oktober 2019 als wissenschaftliche Mitarbeiterin in der Abteilung Finanzmärkte und als Juniorprofessorin an der Friedrich-Schiller-Universität Jena tätig. Ihre Forschungsinteressen liegen in den Bereichen Wohnungsmarkt, empirische Bankenforschung, nachhaltige Finanzierung sowie Finanzökonomik.

Huyen Nguyen studierte an der Foreign Trade University of Vietnam und der Bangor University. Sie promovierte an der University of Nottingham. Bevor Huyen Nguyen zum IWH kam, war sie unter anderem als Senior Research Associate an der University of Bristol tätig und besuchte als Gastwissenschaftlerin die Bank of England, die Deutsche Bundesbank und den Internationalen Währungsfonds.

Ihr Kontakt

Juniorprofessorin Huyen Nguyen, Ph.D.
Juniorprofessorin Huyen Nguyen, Ph.D.
- Abteilung Finanzmärkte
Nachricht senden +49 345 7753-756 Persönliche Seite LinkedIn Profil

Publikationen

Zitationen
75

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Deposit Competition and Mortgage Securitization

Danny McGowan Huyen Nguyen Klaus Schaeck

in: Journal of Money, Credit and Banking, im Erscheinen

Abstract

We study how deposit competition affects a bank's decision to securitize mortgages. Exploiting the state-specific removal of deposit market caps across the U.S. as a source of competition, we find a 7.1 percentage point increase in the probability that banks securitize mortgage loans. This result is driven by an 11 basis point increase in deposit costs and corresponding reductions in banks' deposit holdings. Our results are strongest among banks that rely more on deposit funding. These findings highlight a hitherto undocumented and unintended regulatory cause that motivates banks to adopt the originate-to-distribute model.

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Carbon Transition Risk and Corporate Loan Securitization

Isabella Müller Huyen Nguyen Trang Nguyen

in: Journal of Financial Intermediation, Vol. 63 (July), 2025

Abstract

We examine how banks manage carbon transition risk by selling loans given to polluting borrowers to less regulated shadow banks in securitization markets. Exploiting the election of Donald Trump as an exogenous shock that reduces carbon risk, we find that banks’ securitization decisions are sensitive to borrowers’ carbon footprints. Banks are more likely to securitize brown loans when carbon risk is high but swiftly change to keep these loans on their balance sheets when carbon risk is reduced after Trump’s election. Importantly, securitization enables banks to offer lower interest rates to polluting borrowers but does not affect the supply of green loans. Our findings are more pronounced among domestic banks and banks that do not display green lending preferences. We discuss how securitization can weaken the effectiveness of bank climate policies through reducing banks’ incentives to price carbon risk.

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To Securitize or To Price Credit Risk?

Danny McGowan Huyen Nguyen

in: Journal of Financial and Quantitative Analysis, Vol. 58 (1), 2023

Abstract

Do lenders securitize or price loans in response to credit risk? Exploiting exogenous variation in regional credit risk due to foreclosure law differences along US state borders, we find that lenders securitize mortgages that are eligible for sale to the Government Sponsored Enterprises (GSEs) rather than price regional credit risk. For non-GSE-eligible mortgages with no GSE buyback provision, lenders increase interest rates as they are unable to shift credit risk to loan purchasers. The results inform the debate surrounding the GSEs' buyback provisions, the constant interest rate policy, and show that underpricing regional credit risk increases the GSEs' debt holdings. 

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Arbeitspapiere

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Employment Responses to Increased Biodiversity Transition Risk

Duc Duy Nguyen Huyen Nguyen Trang Nguyen Vathunyoo Sila

in: IWH Discussion Papers, Nr. 20, 2025

Abstract

This paper examines how firms adjust the number and types of workers they hire in response to increased biodiversity transition risk. Using the adoption of the Key Biodiversity Areas Standard of 2016 as a source of variation that increases the risk of future land-use restrictions, we find that firms reduce job postings in affected areas and reallocate labor to less exposed regions. This effect is concentrated among firms that make negative impacts on biodiversity. Cuts are stronger among production roles, while hiring in green and adaptive occupations increases. The effect is not driven by changes in capital investment or workers’ labor supply decisions. Our findings contribute to the ongoing debate on the costs and benefits of biodiversity conservation policies and their implications for labor market outcomes.

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What’s the Melting Pot Worth? Multiculturalism and House Prices

Rachel Cho Hisham Farag Christoph Görtz Danny McGowan Huyen Nguyen Max Schröder

in: IWH Discussion Papers, Nr. 11, 2025

Abstract

Is there a multicultural neighborhood price premium? We exploit plausibly exogenous variation in British colonization patterns in Northern Ireland during the early 1600s which created neighborhoods of varying religious composition that persists until today. These religious groups are culturally distinct, but are observationally equivalent ethnically and socioeconomically. A standard deviation increase neighborhood-level multiculturalism raises house prices by 9.6%. Multiculturalism raises property prices by increasing asset liquidity and housing demand as a wider spectrum of society demand houses in these areas. The findings and mechanism contrast sharply with prior evidence showing negative relationships due to homophily, social networks, and identification challenges.

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Supply Chain Disruptions and Firm Outcomes

Michael Koetter Huyen Nguyen Sochima Uzonwanne

in: IWH Discussion Papers, Nr. 3, 2025

Abstract

This paper examines how firms’ exposure to supply chain disruptions (SCD) affects firm outcomes in the European Union (EU). Exploiting heterogeneous responses to workplace closures imposed by sourcing countries during the pandemic as a shock to SCD, we provide empirical evidence that firms in industries relying more heavily on foreign inputs experience a significant decline in sales compared to other firms. We document that external finance, particularly bank financing, plays a critical role in mitigating the effects of SCD. Furthermore, we highlight the unique importance of bank loans for small and solvent firms. Our findings also indicate that highly diversified firms and those sourcing inputs from less distant partners are less vulnerable to SCD.

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