We examine the quantitative impact of the Federal Reserve's mortgage-backed securities
(MBS) purchase program. We focus on how much of the recent decline in mortgage interest …

Background: In the first half of the 1990s, the federal government adopted three policy
initiatives that were intended to supplement the operations of the Federal Housing …

In December 2008, the Federal Open Market Committee (FOMC) lowered the target for the
federal funds rate to a range of 0 to 25 basis points. With its traditional policy instrument set …

Comment Clearly there is as much politics in this budget as economics. With the looming
election and the promise by the Opposition of a new budget if elected, there is considerable …

Better that the Fed Regulates Subprime Mortgages Page 1 - - Economists’ Voice February,
2008 © The Berkeley Electronic Press Chris Dodd, chairman of the Senate Banking Committee …

This article uses a novel instrumental variables approach to quantify the effect that
government‐sponsored enterprise (GSE) purchase eligibility had on equilibrium mortgage …

[Excerpt] Between March and September 2008, the federal government intervened
financially with private corporations on three occasions, resulting in the government …

The American Dream is often described as buying a home. Indeed, much of US public policy
supports homeownership and relies on it to store and build personal wealth and retirement …

This note examines the use of large-scale purchases of agency debt and agency MBS as an
alternative monetary policy tool when short-term interest rates are at the zero bound. The …