Narrow search
Showing 1 - 10 of 331
Cover Image
Systematic and liquidity risk in subprime-mortgage backed securities
Dungey, Mardi; Dwyer, Gerald P.; Flavin, Thomas - 2011
mortgages. A key feature of subprime-mortgage backed indices is that they are distinct in their vintage of issuance. Using a …
Persistent link: https://www.econbiz.de/10010292259
Cover Image
Money manager capitalism and the global financial crisis
Wray, L. Randall - 2009
This paper applies Hyman Minsky's approach to provide an analysis of the causes of the global financial crisis. Rather than finding the origins in recent developments, this paper links the crisis to the long-term transformation of the economy from a robust financial structure in the 1950s to the...
Persistent link: https://www.econbiz.de/10010281753
Cover Image
The mortgage rate conundrum
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2017
We document the emergence of a disconnect between mortgage and Treasury interest rates in the summer of 2003. Following … the end of the Federal Reserve expansionary cycle in June 2003, mortgage rates failed to rise according to their … historical relationship with Treasury yields, leading to significantly and persistently easier mortgage credit conditions. We …
Persistent link: https://www.econbiz.de/10012030332
Cover Image
The effects of the saving and banking glut on the U.S. economy
Justiniano, Alejandro; Primiceri, Giorgio E.; … - 2013
We use a quantitative equilibrium model with houses, collateralized debt and foreign borrowing to study the impact of global imbalances on the U.S. economy in the 2000s. Our results suggest that the dynamics of foreign capital flows account for between one fourth and one third of the increase in...
Persistent link: https://www.econbiz.de/10010352184
Cover Image
The State of the Indian Economy 2009-10
Joseph, Mathew - 2009
Despite signs of recovery from the global financial crisis, the GDP growth rate for the Indian economy is likely to be …
Persistent link: https://www.econbiz.de/10011807647
Cover Image
Inefficient markets
Goeree, Jacob K.; Zhang, Jingjing - 2012
Traders' values and information typically consist of both private and common-value elements. In such environments, full allocative efficiency is impossible when the private rate of information substitution differs from the social rate (Jehiel and Moldovanu, 2001). We link this impossibility...
Persistent link: https://www.econbiz.de/10010316881
Cover Image
Complex mortgages
Amromin, Gene; Huang, Jennifer; Sialm, Clemens; Zhong, … - 2010
. At the same time, they increase household leverage and heighten dependence on mortgage refinancing to escape changes in …
Persistent link: https://www.econbiz.de/10010292189
Cover Image
El mercado de crédito hipotecario de Perú
Eyzaguirre, Hugo; Seminario, Carlos Calderón - 2003
El presente estudio tiene como finalidad documentar la evolución del mercado de crédito hipotecario en Perú durante los últimos dos decenios y, sobre esta base, analizar y comprender los factores económicos-financieros e institucionales que han limitado o promovido su crecimiento durante...
Persistent link: https://www.econbiz.de/10010327050
Cover Image
Fussing and Fuming over Fannie and Freddie: How Much Smoke, How Much Fire?
Frame, W. Scott; White, Lawrence J. - 2004
mortgage finance. We describe the special features of these two companies and their roles in the mortgage markets. We then …
Persistent link: https://www.econbiz.de/10005846884
Cover Image
Emerging Competition and Risk-Taking Incentives at Fannie Mae and Freddie Mac
White, Lawrence J.; Frame, W. Scott - Federal Reserve Bank <Atlanta, Ga.> - 2004
This paper examines two major forces that may soon increase competition in the U.S. secondary conforming mortgage … market: 1) the expansion of Federal Home Loan Bank mortgage purchase programs, and 2) the adoption of revised risk …
Persistent link: https://www.econbiz.de/10005846886