The sharp rise of house prices in China's Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist....

The events of September 11, 2001, challenged basic assumptions regarding market access, liquidity, clearing, and account reconciliation fundamental to the functioning of the financial markets. Policymakers have responded by proposing that reserves be set aside by firms to cover this operational...

The US mortgage market is of paramount economic and financial importance. While the causes of the Global Financial Crisis (GFC) remain a subject of vigorous debate, lax lending standards and opacity surrounding innovations in securitization are often cited as central issues. A decade following...

The sharp rise of house prices in China's Tier-1 cities has fostered a great deal of commentary about the possibility of bubbles forming there. However, China's unique housing market characteristics make it difficult to assess the macroeconomic severity of bursting bubbles, even if they exist....

An economist at Fannie Mae discusses the challenges facing the housing market and the role of economics in helping to inform decision makers in this key area. The use of scenario analysis and surveys are two examples of the types of activity currently underway. In the midst of a policy debate...