Revelations of accounting irregularities and excessive risk-taking by the home mortgage giants Fannie Mae and Freddie Mac have led to calls for various reforms, in order to protect taxpayers who would likely have to pay the costs if one or both of the firms were to become insolvent. The various...

It is now widely recognized that the interest rate risks embedded in the Fannie Mae and Freddie Mac (F&F) retained mortgage portfolios create a serious threat to the US financial system. This paper evaluates proposals to control the interest rate risk embedded in these portfolios. The analysis...

Globalization and a High-Tech Economy -- International Trade and California Industry -- Foreign Outsourcing and Domestic Industry -- Intra-Firm Trade and Intermediate Inputs -- International Networks and High-Tech Exports -- Global Linkages, the High-Tech Sector, and State Policy Choices --...