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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 serve both the redistributive and growth-enhancing objectives of poverty reduction policies. The current state of housing and mortgage markets in selected Middle East and North...
Persistent link: https://www.econbiz.de/10005825998
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U.S. Consumption after the 2008 Crisis
Lee, Jaewoo; Rabanal, Pau; Sandri, Damiano - International Monetary Fund (IMF) - 2010
U.S. household consumption declined sharply in late 2008, marking a departure from the trend of a steady increase in U … will be sustained beyond the crisis: the U.S. household consumption rate will likely decline somewhat further from its …
Persistent link: https://www.econbiz.de/10011142214
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Canada; Selected Issues
International Monetary Fund (IMF); International … - 2009
This Selected Issues paper on Canada examines economic development and policies. Capital ratios before the crisis have been a key determinant of bank performance during the turmoil; and Canadian banks had ample capital. Specifically, most banks with critically low capital at end-2006 later...
Persistent link: https://www.econbiz.de/10011244253
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Spain; Selected Issues
International Monetary Fund (IMF); International … - 2011
Rebalancing in Spain’s private sector is under way, but with more modest progress on reducing stocks. Spain is subject to significant spending pressures, reflecting unfavorable demographic trends and subdued growth prospects, and will require substantial structural reform. Priority...
Persistent link: https://www.econbiz.de/10011245500
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Foreclosure Mitigation Efforts in the United States; Approaches and Challenges
Klyuev, Vladimir; Kiff, John - International Monetary Fund (IMF) - 2009
Home foreclosure rates have risen in the United States to the highest levels since the Great Depression. With house prices falling, lending standards tightening, unemployment rising, and interest rate resets in the pipeline, foreclosures are projected to go even higher. While most of the time a...
Persistent link: https://www.econbiz.de/10011245863
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Policies for Macrofinancial Stability; Options to Deal with Real Estate Booms
Dell'Ariccia, Giovanni; Rabanal, Pau; Crowe, Christopher W. - International Monetary Fund (IMF) - 2011
DISCLAIMER: This Staff Discussion Note represents the views of the authors and does not necessarily represent IMF views or IMF policy. The views expressed herein should be attributed to the authors and not to the IMF, its Executive Board, or its management. Staff Discussion Notes are published...
Persistent link: https://www.econbiz.de/10011245885
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United Kingdom; Selected Issues
International Monetary Fund (IMF); International … - 2003
This Selected Issues paper examines the factors determining housing prices in the United Kingdom. Based on econometric evidence, the paper assesses whether recent housing price increases can be explained by fundamentals or whether they represent a temporary overshooting of housing prices,...
Persistent link: https://www.econbiz.de/10005252805
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Mortgage Market Development, Savings, and Growth
Li, Xiaowei - International Monetary Fund (IMF) - 2001
Jappelli and Pagano (1994) argues that tightening the borrowing constraints in the mortgage markets promotes savings. Employing a six-period overlapping generations model with endogenous growth and a method of simulation calibrated on the Middle East, this paper demonstrates that the above...
Persistent link: https://www.econbiz.de/10005263983
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Mortgage Defaults
Martinez, Leonardo; Hatchondo, Juan Carlos; Sanchez, Juan M. - International Monetary Fund (IMF) - 2012
This paper incorporates house price risk and mortgages into a standard incomplete market (SIM) model. The model is calibrated to match U.S. data and accounts for non-targeted features of the data such as the distribution of down payments, the life-cycle profile of home ownership, and the...
Persistent link: https://www.econbiz.de/10009650640
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Home Sweet Home; Government's Role in Reaching the American Dream
Tsounta, Evridiki - International Monetary Fund (IMF) - 2011
This paper investigates the role of government intervention in achieving the American dream of homeownership. The study … analyzes the role of tax deductions in housing finance, including their impact on homeownership and housing consumption. The … comparable homeownership rates as the United States in a less complicated and fiscally cheaper system. Country experiences of …
Persistent link: https://www.econbiz.de/10009293771