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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

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

Spain; Selected Issues

International Monetary Fund (IMF); International … - 2011

Rebalancing in Spainâ€™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

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

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

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

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

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

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

What Fuels the Boom Drives the Bust; Regulation and the Mortgage Crisis

Dagher, Jihad; Fu, Ning - International Monetary Fund (IMF) - 2011

We show that the lightly regulated non-bank mortgage originators contributed disproportionately to the recent boom-bust housing cycle. Using comprehensive data on mortgage originations, which we aggregate at the county level, we first establish that the market share of these independent non-bank...

Persistent link: https://www.econbiz.de/10009327868