Protection Bureau issued regulations defining a "qualified mortgage" or "QM." Loans that meet the standards for being a QM … potential liability for the lender, and this potential liability may dissuade some creditors from making of non-QM loans …

We study credit ratings on subprime and Alt-A mortgage-backed-securities (MBS) deals issued between 2001 and 2007, the … credit risk (measured either ex ante or ex post), suggesting that ratings contain useful information for investors. However … standards around the MBS market peak between the start of 2005 and mid-2007. Conditional on initial ratings, we observe …

the underlying model assumptions (e.g. whether or not financial markets are frictionless) … between loan rates and the policy interest rate. In our model, monetary policy has real effects in the flexible …) the natural rate is independent of monetary policy and (ii) it delivers price stability, if used as the intercept of a …

the underlying model assumptions (e.g. whether or not financial markets are frictionless). … between loan rates and the policy interest rate. In our model, monetary policy has real effects in the flexible …) the natural rate is independent of monetary policy and (ii) it delivers price stability, if used as the intercept of a …

and employment all rise and then crash) in response to such a news shock, in a standard real business cycle model. However …, a monetized version of the model which stresses sticky wages and a Taylorrule based monetary policy naturally generates … specifications of the labor market, in which wage-setting frictions do not distort on going firm/worker relations …

views expressed in this paper do not necessarily reflect those of the European Central Bank. The statement of purpose for … Milesi-Ferretti and data on �nancial development are from the World Bank database on Financial Development and Structure. 3 2 … increases in government spending have a positive but not statistically signi�cant impact on all returns. Ardagna, Caselli and …

of the authors and do not indicate concurrence by other members of the research staff or the Board of Governors … in pricing not related to risk or costs, and, according to a 2002 article in The Washington Post, may have opened the … of discrimination. For example, both Crawford and Rosenblatt (1999) and Courchane and Nickerson (1997) have bank level …

the degree of global integration of countries and not a country’s bilateral integration with the United States is a key … policy, ranging from a zero response in some to a reaction of 10% or more in other countries, as well as significant cross …-sector heterogeneity. Distinguishing different transmission channels, we find that in particular the transmission via US and foreign short …

Kreditmarkt, Zins und drei Typen der Inflation Der Aufsatz entwickelt ein analytisches Gerüst, das die gemeinsame … financial assets and the real rate on real capital do not always coincide or even move together. The analyse of short … stock and total "bank credit". These four magnitudes emerge from the responses of public, banks and monetaryfiscal …

mortgages does not include any prepayment information or points paid. 6 addition, the mean and standard deviation of the … interest rates or FHA loan guarantees does not significantly alter the basic default risk premium spread results, and were … loans only post-1995, and is not statistically significant for education loans before or after 1995. 25 These results are …