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We study how the Federal Reserve's quantitative easing (QE) influenced the behavior of Agency mortgage real estate investment trusts (REITs) - a set of institutions identified by the Financial Stability Oversight Council as posing systemic risk. We document that Agency mortgage REITs: [i] equity...
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, constituting the most valuable asset owned by most households and often requiring housing finance (mortgages) to allow for purchase …The paper provides a review of the literature that links housing, housing finance, and economic development. The …. These links - between housing and the economy and between housing and housing finance - are explored in this review paper …
Persistent link: https://www.econbiz.de/10009781135
We study third-party loan guarantees in a model in which lenders can screen, learn loan quality over time and can sell loans before maturity when in need of liquidity. Loan guarantees improve market liquidity and reduce lending standards, with a positive overall welfare effect. Guarantees...
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Since the mid-1990s, many OECD countries have experienced a substantial increase in household indebtedness. Sweden, in particular, has seen indebtedness rise from 90% of disposable income in 1995 to 172% in 2014. The Swedish Financial Supervisory Authority (FSA) has identified mortgage...
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