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Housing Finance GSEs: Who Gets the Subsidy?

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  • 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

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    1. 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.
    2. 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.
    3. 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, September.
    4. Chester Foster & Edward J. Kane, 1986. "Valuing conjectural government guarantees of FNMA liabilities," Proceedings 117, Federal Reserve Bank of Chicago.
    5. 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.).
    6. John C. Weicher, 1994. "The new structure of the housing finance system," Review, Federal Reserve Bank of St. Louis, issue Jul, pages 47-65.
    7. Cook, Douglas O & Spellman, Lewis J, 1992. "Taxpayer Resistance, Guarantee Uncertainty, and Housing Finance Subsidies," The Journal of Real Estate Finance and Economics, Springer, vol. 5(2), pages 181-195, June.
    8. 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.
    9. Deborah L. Martin & Randall Pozdena, 1991. "Taxpayer risk in mortgage policy," FRBSF Economic Letter, Federal Reserve Bank of San Francisco, issue dec20.
    10. 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, September.
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    Cited by:

    1. 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.).
    2. Lawrence White, 2003. "Focusing on Fannie and Freddie: The Dilemmas of Reforming Housing Finance," Journal of Financial Services Research, Springer;Western Finance Association, vol. 23(1), pages 43-58, February.
    3. 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.
    4. Ben R. Craig & James B. Thomson, 2001. "Federal Home Loan Bank lending to community banks: are targeted subsidies necessary?," Working Papers (Old Series) 0112, Federal Reserve Bank of Cleveland.
    5. Garmaise, Mark J. & Moskowitz, Tobias J., 2005. "Catastrophic Risks, a Catastrophic Event and Credit Markets," Working Papers 203, The University of Chicago Booth School of Business, George J. Stigler Center for the Study of the Economy and the State.

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