Housing and the Macroeconomy: The Role of Implicit Guarantees for Government Sponsored Enterprises
This paper deals with the macroeconomic effects of government guarantees on debt issued by Government-Sponsored Enterprises. We set up an economy with a housing and mortgage market where the government provides banks with insurance against aggregate shocks to mortgage default risk. We then study the aggregate and distributional effects coming from this subsidy
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|Date of creation:||2004|
|Date of revision:|
|Contact details of provider:|| Postal: Society for Economic Dynamics Marina Azzimonti Department of Economics Stonybrook University 10 Nicolls Road Stonybrook NY 11790 USA|
Web page: http://www.EconomicDynamics.org/
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- Michael Haliassos, Alexander Michaelides, 2000. "Portfolio Choice And Liquidity Constraints," Computing in Economics and Finance 2000 297, Society for Computational Economics.
- repec:ete:ceswps:ces9805 is not listed on IDEAS
- Anthony Pennington-Cross, 2004.
"The value of foreclosed property,"
2004-022, Federal Reserve Bank of St. Louis.
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