The effects of a declining housing market on the US economy

Longstanding speculation about the likelihood of a housing market collapse has given way in the past few months to consideration of just how far the housing market will fall, and how much damage the debacle will inflict on the economy. This paper assesses the magnitude of the impact of housing price decreases on real private expenditure, examines the role of new types of mortgages and mortgage-related securities, and analyzes possible policy responses.

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Year of publication:	2007
Authors:	Papadimitriou, Dimitri B. ; Hannsgen, Greg ; Zezza, Gennaro
Publisher:	Annandale-on-Hudson, NY : Levy Economics Institute of Bard College
Subject:	Housing Bubble \| Housing Prices \| Housing and Growth \| Housing and Monetary Policy \| Stability and Housing Prices \| Housing Price Inflation \| Securitization \| Subprime Mortgages \| Consumption

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Series:	Working Paper ; 506
Type of publication:	Book / Working Paper
Type of publication (narrower categories):	Working Paper
Language:	English
Other identifiers:	571698409 [GVK] hdl:10419/31606 [Handle]
Classification:	E21 - Consumption; Saving ; E30 - Prices, Business Fluctuations, and Cycles. General ; E44 - Financial Markets and the Macroeconomy ; G10 - General Financial Markets. General ; G21 - Banks; Other Depository Institutions; Mortgages ; G23 - Pension Funds; Other Private Financial Institutions ; G28 - Government Policy and Regulation ; R31 - Housing Supply and Markets
Source:	EconStor

Persistent link: https://www.econbiz.de/10010266555