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Author:Mauskopf, Eileen 

Journal Article
The transmission channels of monetary policy: how have they changed?

Federal Reserve Bulletin , Issue Dec

Working Paper
Designing loan modifications to address the mortgage crisis and the making home affordable program

Delinquencies on residential mortgages and home foreclosures have risen dramatically in the past couple of years. The mortgage losses triggered a broad-based financial crisis and severe recession, which, in turn, exacerbated the initial financial distress faced by homeowners. Although servicers increased their loss mitigation efforts as defaults began to mount, foreclosures continued to occur in cases where both the borrower and investor would be better off if such an outcome were avoided. The U.S. government has engaged in a number of initiatives to reduce such foreclosures. This paper ...
Finance and Economics Discussion Series , Paper 2009-43

Journal Article
Structure and uses of the MPS quarterly econometric model of the United States

Federal Reserve Bulletin , Issue Feb

Taxes, inflation, and the allocation of capital


Journal Article
The role of expectations in the FRB/US macroeconomic model

In the past year, the staff of the Board of Governors of the Federal Reserve System began using a new macroeconomic model of the U.S. economy referred to as the FRB/US model. This system of mathematical equations, describing interactions among economic measures such as inflation, interest rates, and gross domestic product, is one of the tools used in economic forecasting and the analysis of macroeconomic policy issues at the Board. The FRB/US model replaces the MPS model, which, with periodic revisions, had been used at the Federal Reserve Board since the early 1970s. A key feature of the new ...
Federal Reserve Bulletin , Volume 83 , Issue Apr

Working Paper
The incentives of mortgage servicers: myths and realities

As foreclosure initiations have soared over the past couple of years, many have questioned whether mortgage servicers have the right incentives to work out troubled subprime mortgages so that borrowers can avoid foreclosure and remain in their homes. Some critics claim that because servicers, unlike investors, do not bear the losses associated with foreclosure, they have little incentive to modify troubled loans by reducing interest rates or principal, or by extending the term. Our analysis suggests that while servicers have substantially improved borrower outreach and increased loss ...
Finance and Economics Discussion Series , Paper 2008-46

A proposal to help distressed homeowners: a government payment-sharing plan

This public policy brief presents a proposal, originally posted on the website of the Federal Reserve Bank of Boston in January of this year, designed to help homeowners who are unable to afford mortgage payments on their principal residence because they have suffered a significant income disruption and because the balance owed on their mortgage exceeds the value of their home. These homeowners represent a subset of the population of distressed homeowners, but according to our research they face an elevated risk of default and are unlikely to be helped by current foreclosure-reduction ...
Public Policy Brief


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