Housing Finance in the United States in the Year 2001
AbstractThis paper proceeds as follows. We first identify the essential services provided by a financial system and then derive the characteristics of the system that would exist in a technologically advanced society unfettered by nonneutral taxes and regulations. Next we consider how taxes and regulations have shaped the existing American financial structure. Finally, we posit likely tax and regulatory changes and conjecture as to how technological innovation will further interact with these changes to alter the American financial system. Our basic contentions are that the tax and regulatory influences are eroding and that the system will eventually move toward the unfettered financial system described in the first section.
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Bibliographic InfoPaper provided by National Bureau of Economic Research, Inc in its series NBER Working Papers with number 0739.
Date of creation: Aug 1981
Date of revision:
Publication status: published as in "North American Housing Markets into the 21st Century", edited by Gau and Goldberg. Aisterdam: North-Holland, (1983), pp . 181-202.
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- Patric H. Hendershott, 1980. "Real User Costs and the Demand for Single-Family Housing," Brookings Papers on Economic Activity, Economic Studies Program, The Brookings Institution, vol. 11(2), pages 401-452.
- Stanley Fischer, 1979. "Corporate Supply of Index Bonds," NBER Working Papers 0331, National Bureau of Economic Research, Inc.
- Rosen, Harvey S & Rosen, Kenneth T, 1980. "Federal Taxes and Homeownership: Evidence from Time Series," Journal of Political Economy, University of Chicago Press, University of Chicago Press, vol. 88(1), pages 59-75, February.
- Patric H. Hendershott & Kevin E. Villani, 1981. "Savings and Loan Usage of the Authority to Invest in Corporate Debt," NBER Working Papers 0725, National Bureau of Economic Research, Inc.
- Brunner, Karl & Meltzer, Allan H, 1971. "The Uses of Money: Money in the Theory of an Exchange Economy," American Economic Review, American Economic Association, American Economic Association, vol. 61(5), pages 784-805, December.
- Kane, Edward J, 1970. "Short-Changing the Small Saver: Federal Government Discrimination against the Small Saver During the Vietnam War," Journal of Money, Credit and Banking, Blackwell Publishing, Blackwell Publishing, vol. 2(4), pages 513-22, November.
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