Due to a high ratio of foreign ownership, countries in the Central and East European (CEE) region are characterised by particularly high financial integration. Therefore, contagion risks are high in both directions: a problem that develops in the country of a parent bank can easily spread to the...

Purpose – This paper investigates the link between equity and credit markets for the government‐sponsored mortgage institutions, Fannie Mae and Freddie Mac, during the period from January 2007 until December 2008. Before the financial crisis, investors perceived these real estate finance...

Fannie Mae and Freddie Mac are government-sponsored enterprises that play a central role in U.S. residential mortgage markets. In recent years, policymakers became increasingly concerned about the size and risk-taking incentives of these two institutions. In September 2008, the federal...

The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of this paper is to understand the determinants and implications of mortgage choice in the context of a general equilibrium model with incomplete markets. The equilibrium characterization...

This paper analyses the relationship between female labour market participation and mortgage commitments in life-cycle set up. In particular it examines whether a mortgage qualification constraint has any effect on female labour market participation. This is done by conditioning on the mortgage...