Swagel Phillip L. - In: The B.E. Journal of Macroeconomics 12 (2012) 3, pp. 1-32
This paper proposes a reform for the U.S. housing finance system in which the private sector is the main supplier of capital for housing, while the U.S. government would provide a secondary guarantee on conforming mortgage-backed securities (MBS). Competition plays a key role, with multiple...
