Recently, some notable contributions suggest, that discretionary fiscal policy can be an effective and self- financing policy option in the presence of extreme macroeconomic conditions. Given the special relationship between the Irish sovereign and its main financial institutions, this paper...

This article draws on a census survey of lenders and other published evidence to provide a critical overview of the sub-prime mortgage sector in the UK. Its origins and growth are identified as lying in a combination of changes in the structure of the economy and the introduction of automated...

This paper presents new models for aggregate UK data on mortgage possessions (foreclosures) and mortgage arrears (payment delinquencies). The innovations include the treatment of difficult to observe variations in loan quality and shifts in forbearance policy by lenders, by common latent...

This article draws on a census survey of lenders and other published evidence to provide a critical overview of the sub-prime mortgage sector in the UK. Its origins and growth are identified as lying in a combination of changes in the structure of the economy and the introduction of automated...