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An Investigation of Some Macro-Financial Linkages of Securitization
Long, Xin; Goswami, Mangal; Jobst, Andreas - International Monetary Fund (IMF) - 2009
financial sector stability) to the fast rise of securitization and the way it has arguably complicated both the conduct of … innovation, specifically through securitization, has altered the nature of some macro-financial linkages, often with considerable … policy implications. We find that securitization activity in the United States (mature market) and South Africa (emerging …
Persistent link: https://www.econbiz.de/10005263753
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An Anatomy of Credit Booms; Evidence From Macro Aggregates and Micro Data
Terrones, Marco; Mendoza, Enrique G. - International Monetary Fund (IMF) - 2008
We study the characteristics of credit booms in emerging and industrial economies. Macro data show a systematic relationship between credit booms and economic expansions, rising asset prices, real appreciations and widening external deficits. Micro data show a strong association between credit...
Persistent link: https://www.econbiz.de/10005263687
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Impact of the Global Crisison Banking Sector Soundness in Asian Low-Income Countries
International Monetary Fund (IMF); International … - 2011
The paper takes stock of the impact of the global financial crisis that began in late 2007 on banking sectors of Asian low-income countries, by exploring bank-level data provided by Bankscope. The paper examines three key channels of possible crisis spillovers: exposures to (i) valuation changes...
Persistent link: https://www.econbiz.de/10009147328
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Japan; Selected Issues
International Monetary Fund (IMF); International … - 2008
This Selected Issues paper discusses the impact of global financial turmoil on Japan. It describes how close integration in global financial markets has deepened and expanded the channels for spillovers. The paper discusses options for increasing the consumption tax to finance the public pension...
Persistent link: https://www.econbiz.de/10011243246
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The Role of Affordable Mortgages in Improving Living Standards and Stimulating Growth; A Survey of Selected Mena Countries
Nothaft, Frank E.; Erbas, S. Nuri - International Monetary Fund (IMF) - 2002
This paper argues that making affordable home mortgage loans available to a large cross section of the population will … and mortgage markets in selected Middle East and North Africa (MENA) countries (Algeria, Egypt, Jordan, Morocco, and … growth of alleviating housing shortages by improving access to mortgage financing. …
Persistent link: https://www.econbiz.de/10005825998
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Money for Nothing and Checks for Free; Recent Developments in U.S. Subprime Mortgage Markets
Mills, Paul S.; Kiff, John - International Monetary Fund (IMF) - 2007
After a number of warning signs, the U.S. "subprime mortgage crisis" became a headline issue in February 2007 …. Notwithstanding the bankruptcy of numerous mortgage companies, historically high delinquencies and foreclosures, and a significant …
Persistent link: https://www.econbiz.de/10005605115
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Do Loan-To-Value and Debt-To-Income Limits Work? Evidence From Korea
Igan, Deniz; Kang, Heedon - International Monetary Fund (IMF) - 2011
With another real estate boom-bust bringing woes to the world economy, a quest for a better policy toolkit to deal with these boom-busts has begun. Macroprudential measures could be in such a toolkit. Yet, we know very little about their impact. This paper takes a step to fill this gap by...
Persistent link: https://www.econbiz.de/10009401203
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Belgium; Selected Issues
International Monetary Fund (IMF); International … - 2006
This Selected Issues paper for Belgium evaluates whether price increases in Belgium are excessive. It assesses the household and bank balance sheets and their vulnerability to a slowdown in housing prices, and identifies differences in real estate markets between Belgium and other countries. The...
Persistent link: https://www.econbiz.de/10005825451
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Exposure to Real Estate Losses; Evidence from the US Banks
Pinheiro, Marcelo; Igan, Deniz - International Monetary Fund (IMF) - 2009
mortgage interest rate leads to a 20 percent decrease in a typical bank's distance to default. Finally, we look at the cross …
Persistent link: https://www.econbiz.de/10008541450
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How to Deal with Real Estate Booms; Lessons From Country Experiences
Rabanal, Pau; Crowe, Christopher W.; Dell'Ariccia, Giovanni - International Monetary Fund (IMF) - 2011
The financial crisis showed, once again, that neglecting real estate booms can have disastrous consequences. In this paper, we spell out the circumstances under which a more active policy agenda on this front would be justified. Then, we offer tentative insights on the pros and cons as well as...
Persistent link: https://www.econbiz.de/10009019603