The GSE Implicit Subsidy and the Value of Government Ambiguity PDF Download

Author: Wayne Passmore
Publisher:
ISBN:
Category :
Languages : en
Pages : 23

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Author: Wayne Passmore
Publisher:
ISBN:
Category :
Languages : en
Pages : 38

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Author: Wayne Passmore
Publisher:
ISBN:
Category : Government-sponsored enterprises
Languages : en
Pages : 52

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Author: Wayne Passmore
Publisher:
ISBN:
Category : Government-sponsored enterprises
Languages : en
Pages : 66

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Author: Diana Hancock
Publisher: DIANE Publishing
ISBN: 1437939872
Category : Business & Economics
Languages : en
Pages : 42

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Focuses on a specific market failure that is associated with asset-backed securitization and proposes a tailored gov¿t. remedy. The additional liquidity provided by securitization may (or may not) lower primary loan rates. If guarantee-sensitive investors doubt the credit quality of asset-backed bonds, large risk premiums can develop. If a financial crisis ensues, securitization can disappear from the market entirely, leaving banks that originate the highest quality loans as the only source of credit. This abrupt increase in lending standards can tighten credit, exacerbate asset price declines, and impinge on econ. growth. An institutional structure for stemming ¿runs¿ could be deployed to insure pre-specified asset-backed instruments. Illus. This is a print on demand pub.

Author: Oonagh McDonald
Publisher: A&C Black
ISBN: 1780935234
Category : Business & Economics
Languages : en
Pages : 494

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The book demonstrates how politicians and federal agencies dominated Fannie Mae and Freddie Mac and took just thirteen years to wreck the American dream of home ownership.

Author: United States. Congress. Senate. Committee on Banking, Housing, and Urban Affairs
Publisher:
ISBN:
Category : Government-sponsored enterprises
Languages : en
Pages : 550

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Author: Chris Jefferis
Publisher: Taylor & Francis
ISBN: 131753610X
Category : Political Science
Languages : en
Pages : 149

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This book analyses the logic of applying the American Post-Keynesian economist Hyman Minsky’s Financial Instability Hypothesis (FIH) to the financial crisis of 2007–08. Arguing that most theories of financial crisis, including Minsky’s own, only describe events, but do not actually explain them, the book surveys theories of financial crisis that have been developed to describe instability in the post-WW2 US financial system and analyses them in their historical context. The book argues that explanation of the financial crisis of 2007–08 should involve interpretation of the concept of 'risk', which guides the construction and pricing of contemporary financial products such as derivatives and asset backed securities, as a form of 'liquidity', the concept that Minsky sought to explain the financial crises of the 1970s and 1980s with. The book highlights the continuing relevance of Minsky’s theory of liquidity crisis as "immanent", in a historical sense, to the products and trading practices of modern finance, because these products were developed to obviate the crisis dynamics that Minsky described. Minsky's FIH can therefore inform historical understanding of the crisis of 2007–08 but is not directly explanatory itself. The book explores explanation of the financial crisis of 2007–08 interpreting 'liquidity', in practical historical terms, as involving a process of development out of prior crisis dynamics. Seeking to contribute to debates over the causes of the financial crisis of 2007–08 by blending a discussion of historicizing philosophy, economic theory and contemporary financial banking and trading practices this work will be of great interest to scholars of international political economy, heterodox economics and critical theory.

Author: Marc Allen Eisner
Publisher: Routledge
ISBN: 1317293282
Category : Political Science
Languages : en
Pages : 516

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Regulatory change is typically understood as a response to significant crises like the Great Depression, or salient events that focus public attention, like Earth Day 1970. Without discounting the importance of these kinds of events, change often assumes more gradual and less visible forms. But how do we ‘see’ change, and what institutions and processes are behind it? In this book, author Marc Eisner brings these questions to bear on the analysis of regulatory change, walking the reader through a clear-eyed and careful examination of: the dynamics of regulatory change since the 1970s social regulation and institutional design forms of gradual change – including conversion, layering, and drift gridlock, polarization, and the privatization of regulation financial collapse and the anatomy of regulatory failure Demonstrating that transparency and accountability – the hallmarks of public regulation – are increasingly absent, and that deregulation was but one factor in our most recent significant financial collapse, the Great Recession, this book urges readers to look beyond deregulation and consider the broader political implications for our current system of voluntary participation in regulatory programs and the proliferation of public-private partnerships. This book provides an accessible introduction to the complex topic of regulatory politics, ideal for upper-level and graduate courses on regulation, government and business, bureaucratic politics, and public policy.

Author: United States. Congress. House. Committee on Financial Services. Subcommittee on Oversight and Investigations
Publisher:
ISBN:
Category : Business & Economics
Languages : en
Pages : 780

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