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Government-Backed Mortgage Insurance Promoted a Speedier Recovery from the Great Recession

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Abstract

The United Sates government has a long history of involvement in mortgage finance. During the 1930s, the government created the Federal Home Loan Banks (FHLB), the Federal Housing Administration (FHA), and the Federal National Mortgage Association (Fannie Mae). In this note, we estimate how the intensity of GSE, FHA, PLS, and portfolio exposures influence the state of the real economy across counties.

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  • Wayne Passmore & Shane M. Sherlund, 2016. "Government-Backed Mortgage Insurance Promoted a Speedier Recovery from the Great Recession," FEDS Notes 2016-04-12, Board of Governors of the Federal Reserve System (U.S.).
  • Handle: RePEc:fip:fedgfn:2016-04-12
    DOI: 10.17016/2380-7172.1742
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    File URL: https://www.federalreserve.gov/econresdata/notes/feds-notes/2016/government-backed-mortgage-insurance-promoted-a-speedier-recovery-from-the-great-recession-20160412.html
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