FNMA's Role in Deregulated Markets: Implications from Past Behavior
AbstractThe role that the Federal National Mortgage Association has played over the housing and mortgage credit cycle has often been the subject of controversy. The purpose of this paper is to analyze, both theoretically and econometrically (using VAR techniques), the Federal National Mortgage Association's impact over the last cycle and its likely future role in a deregulated environment, and to investigate the robustness of the econometric results found for earlier cycles. The econometric work suggests that the Federal National Mortgage Association did not behave countercyclically in the last cycle, while generally supporting its countercyclical role in previous cycles noted in earlier work. Copyright 1988 by Ohio State University Press.
Download InfoIf you experience problems downloading a file, check if you have the proper application to view it first. In case of further problems read the IDEAS help page. Note that these files are not on the IDEAS site. Please be patient as the files may be large.
As the access to this document is restricted, you may want to look for a different version under "Related research" (further below) or search for a different version of it.
Bibliographic InfoArticle provided by Blackwell Publishing in its journal Journal of Money, Credit and Banking.
Volume (Year): 20 (1988)
Issue (Month): 4 (November)
Contact details of provider:
Web page: http://www.blackwellpublishing.com/journal.asp?ref=0022-2879
You can help add them by filling out this form.
CitEc Project, subscribe to its RSS feed for this item.
- Andrea Heuson & Wayne Passmore & Roger Sparks, 2000. "Credit scoring and mortgage securitization: do they lower mortgage rates?," Finance and Economics Discussion Series 2000-44, Board of Governors of the Federal Reserve System (U.S.).
- Edward Kane, 1999. "Housing Finance GSEs: Who Gets the Subsidy?," Journal of Financial Services Research, Springer, vol. 15(3), pages 197-209, May.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Wiley-Blackwell Digital Licensing) or (Christopher F. Baum).
If references are entirely missing, you can add them using this form.