Housing America: The Unequal Geography of Risk and Opportunity
In: Housing policy debate, Band 25, Heft 4, S. 813-816
ISSN: 2152-050X
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In: Housing policy debate, Band 25, Heft 4, S. 813-816
ISSN: 2152-050X
In: National Institute economic review: journal of the National Institute of Economic and Social Research, Band 230, S. R34-R44
ISSN: 1741-3036
Housing finance and, specifically, the subprime private label securitisation market in the US, was at the epicentre of the global financial crisis. Excessive debt expansion in the run-up to the crisis resulted in credit risk, under-identified and mispriced ex ante, and in systemic risk. This paper considers the role of financial innovation in debt markets and the changing market structure of securitisation in the evolution of the US housing price bubble. New financing vehicles contributed to growing risk, but the more salient factor was the change in the structure of securitisation, which led to unsustainable levels of debt.
In: The annals of the American Academy of Political and Social Science, Band 555, Heft 1, S. 227-228
ISSN: 1552-3349
In: The annals of the American Academy of Political and Social Science, Band 555, S. 227-228
ISSN: 0002-7162
In: The City in the Twenty-First Century Ser
Underfunded pension liabilities are severely threatening many cities, and policymakers are increasingly turning their attention to the legacy issues surrounding the funding of pensions. Public Pensions and City Solvency addresses this complex fiscal issue and presents strategies to achieve financial sustainability
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Working paper
In: Economic Policy Review, Band 24, Heft 3
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Momentum seemed to be escalating in early 2014 for the passage of a comprehensive reform package of the housing finance system in the U.S., but that was not to be, as neither political party fully supported its passage, derailing the progress made over the previous few years. While consensus around the primary features of reform has grown, new research that questions these assumptions needs to be addressed and the inertia keeping the country mired in the current, uncertain system needs to be overcome. In this brief, we will discuss the progress made thus far en route to reform, analyze the disparate elements of the leading proposals, and incorporate new findings that will shape the additional research that must be done before policymakers can agree on the best path forward. ; https://repository.upenn.edu/pennwhartonppi/1025/thumbnail.jpg
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In: Journal of policy analysis and management: the journal of the Association for Public Policy Analysis and Management, Band 13, Heft 2, S. 393-396
ISSN: 0276-8739
In: Journal of policy analysis and management: the journal of the Association for Public Policy Analysis and Management, Band 9, Heft 3, S. 422-425
ISSN: 0276-8739
In: Journal of policy analysis and management: the journal of the Association for Public Policy Analysis and Management, Band 9, Heft 3, S. 422-425
ISSN: 0276-8739
In: Journal of policy analysis and management: the journal of the Association for Public Policy Analysis and Management, Band 9, Heft 3, S. 422-425
ISSN: 0276-8739