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Housing Finance GSEs: Who Gets the Subsidy?

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  • Edward Kane

Abstract

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Suggested Citation

  • Edward Kane, 1999. "Housing Finance GSEs: Who Gets the Subsidy?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 15(3), pages 197-209, May.
  • Handle: RePEc:kap:jfsres:v:15:y:1999:i:3:p:197-209
    DOI: 10.1023/A:1008192800579
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    References listed on IDEAS

    as
    1. John L. Goodman & Wayne Passmore, 1992. "Market power and the pricing of mortgage securitization," Finance and Economics Discussion Series 187, Board of Governors of the Federal Reserve System (U.S.).
    2. Kaufman, Herbert M, 1988. "FNMA's Role in Deregulated Markets: Implications from Past Behavior," Journal of Money, Credit and Banking, Blackwell Publishing, vol. 20(4), pages 673-683, November.
    3. Passmore, Wayne & Sparks, Roger, 1996. "Putting the Squeeze on a Market for Lemons: Government-Sponsored Mortgage Securitization," The Journal of Real Estate Finance and Economics, Springer, vol. 13(1), pages 27-43, July.
    4. James F. Gatti & Ronald W. Spahr, 1997. "The Value of Federal Sponsorship: The Case of Freddie Mac," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 25(3), pages 453-485.
    5. John C. Weicher, 1994. "The new structure of the housing finance system," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 47-65.
    6. Deborah L. Martin & Randall Pozdena, 1991. "Taxpayer risk in mortgage policy," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue dec20.
    7. Robert C. Merton & André Perold, 1993. "Theory Of Risk Capital In Financial Firms," Journal of Applied Corporate Finance, Morgan Stanley, vol. 6(3), pages 16-32.
    8. Edward J. Kane & Chester Foster, 1986. "Valuing conjectural government guarantees of FNMA liabilities," Proceedings 117, Federal Reserve Bank of Chicago.
    9. Hendershott, Patric H & Shilling, James D, 1989. "The Impact of the Agencies on Conventional Fixed-Rate Mortgage Yields," The Journal of Real Estate Finance and Economics, Springer, vol. 2(2), pages 101-115, June.
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    Citations

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    Cited by:

    1. Ben R. Craig & James B. Thomson, 2001. "Federal Home Loan Bank lending to community banks: are targeted subsidies necessary?," Working Paper 0112, Federal Reserve Bank of Cleveland.
    2. Wayne Passmore, 2003. "The GSE implicit subsidy and value of government ambiguity," Finance and Economics Discussion Series 2003-64, Board of Governors of the Federal Reserve System (U.S.).
    3. Wayne Passmore, 2005. "The GSE Implicit Subsidy and the Value of Government Ambiguity," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 33(3), pages 465-486, September.
    4. Ben Craig & James Thomson, 2003. "Federal Home Loan Bank Lending to Community Banks: Are Targeted Subsidies Desirable?," Journal of Financial Services Research, Springer;Western Finance Association, vol. 23(1), pages 5-28, February.

    More about this item

    Keywords

    GSE subsidy; Fannie Mae; incentive compensation;

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