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|
|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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- Robert F. Martin Joseph W. Gruber, 2004. "Does Housing Wealth Make Us Less Equal? The Role of Durable Goods in the Distribution of Wealth," Econometric Society 2004 North American Summer Meetings 15, Econometric Society.
- repec:ete:ceswps:ces9805 is not listed on IDEAS
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UWO Department of Economics Working Papers
9807, University of Western Ontario, Department of Economics.
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- Michael Haliassos & Alexandros Michaelides, 1999.
"Portfolio Choice and Liquidity Constraints,"
University of Cyprus Working Papers in Economics
9918, University of Cyprus Department of Economics.
- Michael Haliassos, Alexander Michaelides, 2000. "Portfolio Choice And Liquidity Constraints," Computing in Economics and Finance 2000 297, Society for Computational Economics.
- Haliassos, Michalis & Michaelides, Alexander, 2001. "Portfolio Choice and Liquidity Constraints," CEPR Discussion Papers 2822, C.E.P.R. Discussion Papers.
- Satyajit Chatterjee & Dean Corbae & Makoto Nakajima & Jose-Victor Rios-Rull, 2007.
"A quantitative theory of unsecured consumer credit with risk of default,"
07-16, Federal Reserve Bank of Philadelphia.
- Satyajit Chatterjee & Dean Corbae & Makoto Nakajima & José-Víctor Ríos-Rull, 2007. "A Quantitative Theory of Unsecured Consumer Credit with Risk of Default," Econometrica, Econometric Society, vol. 75(6), pages 1525-1589, November.
- Satyajit Chatterjee & Dean Corbae & Makoto Nakajima & Jose-Victor Rios-Rull, 2002. "A Quantitative Theory of Unsecured Consumer Credit with Risk of Default," Centro de Altisimos Estudios Rios Pe©rez(CAERP) 2, Centro de Altisimos Estudios Rios Perez (CAERP).
- W. Scott Frame & Larry D. Wall, 2002. "Financing housing through government-sponsored enterprises," Economic Review, Federal Reserve Bank of Atlanta, issue Q1, pages 29-43.
- Anthony Pennington-Cross, 2004.
"The value of foreclosed property,"
2004-022, Federal Reserve Bank of St. Louis.
- Wayne Passmore & Shane M. Sherlund & Gillian Burgess, 2005.
"The Effect of Housing Government-Sponsored Enterprises on Mortgage Rates,"
Real Estate Economics,
American Real Estate and Urban Economics Association, vol. 33(3), pages 427-463, 09.
- Wayne Passmore & Shane M. Sherlund & Gillian Burgess, 2005. "The effect of housing government-sponsored enterprises on mortgage rates," Finance and Economics Discussion Series 2005-06, Board of Governors of the Federal Reserve System (U.S.).
- Tauchen, George & Hussey, Robert, 1991. "Quadrature-Based Methods for Obtaining Approximate Solutions to Nonlinear Asset Pricing Models," Econometrica, Econometric Society, vol. 59(2), pages 371-396, March.
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