The influence of homeownership on portfolio choice is a complex issue because housing is both an investment good and a consumption good. That said, a deeper analysis of the influence of homeownership is crucial, at least if we consider the recent high fluctuations in the housing market and the substantial increase in mortgage debt both in the US and some European countries.
Does homeownership influence stockholding?
Denis Fougère, Mathilde Poulhès, 1 December 2012
How well do individuals predict the selling prices of their homes?
Sergi Jiménez-Martín, Hugo Benítez-Silva, Selcuk Eren, Frank Heiland , 30 June 2009
Housing wealth is one of the pillars of the well-being of Americans families, especially because it represents more than 60% of the average net wealth of US households, according to the Federal Reserve's 2004 Survey of Consumer Finances (SCF).
TARP2: A totally alternative relief programme
Riccardo Cesari, 18 October 2008
After years of deregulation and decades of loose control and mistrust in the systems of surveillance and supervision of financial intermediaries, a disrupting crisis of confidence has erupted in the US and has quickly reached all developed economies.
‘No recourse’ and ‘put options’: Estimating the ‘fair value’ of US mortgage assets
Daniel Gros, 27 September 2008
A key issue for the $700 billion bail out plan now being finalised is the pricing of the ‘toxic assets’ the US Treasury should buy.
The Panglossian World of Finance
Daniel Cohen, 3 June 2008
What is the origin of financial crises? A simple fact, a fact that may be summarised as follows: one tends to bet more freely with other people’s money than with one’s own.
The relationship between the recent boom and the current delinquencies in subprime mortgages
Giovanni Dell'Ariccia, Deniz Igan, Luc Laeven, 4 February 2008
Over the last decade, the market for mortgage-backed securities has expanded dramatically, evolving from a small niche segment to a major portion of the overall U.S. mortgage market. The authors of CEPR DP6683 study the relationship between this recent boom and current delinquencies in the subprime mortgage market.
Subprime 'crisis': observations on the emerging debate
Charles Wyplosz, 16 August 2007
As financial anxiety keeps mounting worldwide, comments flourish and joyfully contradict each other. Central banks are bailing out dangerous gamblers, says one. They are skillfully preventing a 1929-style crash, says another one. Things are being gradually normalized, some assert. This is just the beginning of a vicious circle of unforeseen meltdown, just wait, warn others.
- Fiscal consolidation: At what speed?Blanchard, Leigh
- Public debt and economic growth, one more timePanizza, Presbitero
- Escaping liquidity traps: Lessons from the UK’s 1930s escapeCrafts
- The lessons of the North Atlantic crisis for economic theory and policyStiglitz
- Do entrepreneurs matter?Becker, Hvide
- A tale of two depressions: What do the new data tell us? February 2010 updateEichengreen, O’Rourke
- Educated in America: College graduates and high school dropoutsHeckman, LaFontaine
- Eurozone breakup would trigger the mother of all financial crisesEichengreen
- Debt, deleveraging, and the liquidity trap: A new modelKrugman
- Panic-driven austerity in the Eurozone and its implicationsDe Grauwe, Ji
Reichlin, Baldwin, 14 April 2013
CEPR Policy Research
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- Income and schoolingBrückner, Gradstein
- Monetary Policy and Rational Asset Price BubblesGalí
- Does Supporting Passenger Railways Reduce Road Traffic Externalities?Lalive, Luechinger, Schmutzler
- How the EZ crisis is permanently changing EU institutionsMicossi
- WTO 2.0: Global governance of supply-chain tradeBaldwin
- Is US economic growth over? Faltering innovation confronts the six headwindsGordon
- The economic crisis: How to stimulate economies without increasing public debtWood
- Austerity: Too Much of a Good Thing?Corsetti