Am 14. Dezember 2011 stellte das ifo Institut im Rahmen seines vorweihnachtlichen Pressegesprächs seine Prognose für die Jahre 2011 und 2012 vor. In Deutschland ist das Bruttoinlandsprodukt bis zuletzt deutlich gestiegen. Der ifo Geschäftsklimaindex und andere Frühindikatoren zeigen jedoch...

Am 14. Dezember 2011 stellte das ifo Institut im Rahmen seines vorweihnachtlichen Pressegesprächs seine Prognose für die Jahre 2011 und 2012 vor. In Deutschland ist das Bruttoinlandsprodukt bis zuletzt deutlich gestiegen. Der ifo Geschäftsklimaindex und andere Frühindikatoren zeigen jedoch...

Macroeconomic and sector-specific shocks exert differential effects on investment in disaggregate sectoral data. The response to macroeconomic shocks is hump-shaped, just as in aggregate data. The effects of sectoral innovations decrease monotonically. A calibrated model of investment with...

Residential mortgage markets in the United States have been tumultuous in recent years. Much has been written about this period of dislocation, but little empirical work has assessed specifically its impact on low-income and minority communities, or African-American and Hispanic borrowers...

Responses to the mortgage market crisis of the past decade led to myriad changes in the structure of the industry, expanded market regulations, and resulted in a shift in the composition of products being offered to borrowers. To name but a few changes, the subprime market virtually disappeared,...

Throughout the last decade, mortgage markets experienced both a considerable decline and a considerable increase in the share of the market served by the FHA. Concerns have grown about the solvency of the program and about the access to credit of the borrowers served by the FHA market. These...

Public policy concerns increasingly have focused on subprime lending. Our research uses a survey of prime and subprime borrowers to address whether borrowers quot;inappropriatelyquot; are channeled to the subprime segment, if once having taken out a subprime mortgage, borrowers are...

This paper considers the question of whether inaccurate self-assessment of credit is associated with undesirable financial market outcomes. Our analysis is empirical, and relies on two different data sets - a consumer survey conducted in 2000 by Freddie Mac, and 1.2 million mortgage loans...