Search Results
Journal Article
Home prices: a case for cautious optimism
Many analysts are cautiously optimistic that the house price decline has ended, citing that house prices increased in June and July. There are several reasons for being cautious.
Journal Article
The LIBOR-OIS spread as a summary indicator
Journal Article
Mortgage originations: 2000-2006
Journal Article
Is the financial crisis over? a yield spread perspective
Our finding is consistent with some recent, substantial volatility in the U.S. corporate bond market and leaves open a possibility that additional, future shocks to default premia may have long-lived effects.
Journal Article
Recent movements in the Baltic Dry Index
Journal Article
Why HARM the subprime borrower?
Hybrid adjustable rate mortgages (HARM) were designed to be refinanced by the reset date, when the interest rate would jump. These mortgages worked out well for many people who were credit risks - but only as long as housing prices continued to rise.
Journal Article
Taming the long-term spreads
Given the size of the underlying markets, cutting the cost of capital to firms and households by reducing the yields required on long-term corporate bonds and mortgages is a key policy objective.
Working Paper
A yield spread perspective on the great financial crisis: break-point test evidence
We use a simple partial adjustment econometric framework to investigate the effects of the crisis on the dynamic properties of a number of yield spreads. We find that the crisis has caused substantial disruptions revealed by changes in the persistence of the shocks to spreads as much as by in their unconditional mean levels. Formal breakpoint tests confirm that the financial crisis has been over approximately since the Spring of 2009. The financial crisis can be conservatively dated as a August 2007 ? June 2009 phenomenon, although some yield spread series seem to point out to an end of the ...
Newsletter
What does foreclosure entail?
The FDIC estimates that an additional 4 to 5 million mortgages could enter foreclosure over the next two years. How did this happen, and what can be done to improve the situation? The April 2009 Newsletter offers some insights and further resources on the foreclosure situation.