Housing, credit constraints, and macro stability: The secondary mortgage market and reduced cyclicality of residential investment

American Economic Review

Volumn 96, Issue 2, 2006, Pages 135-140

  Peek, Joe ^d   Wilcox, James A ^e   Kashyap, Anil ^a   Scharfstein, David ^b   Gertler, Mark ^c  

^a UNIVERSITY OF CHICAGO   (United States)

^b HARVARD BUSINESS SCHOOL   (United States)

^c NEW YORK UNIVERSITY   (United States)

^d UNIVERSITY OF KENTUCKY   (United States)

^e UNIVERSITY OF CALIFORNIA   (United States)

Author keywords

[No Author keywords available]

Indexed keywords

EID: 33744536252     PISSN: 00028282     EISSN: None     Source Type: Journal    
DOI: 10.1257/000282806777211973     Document Type: Conference Paper

References (11)

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2. Dynan, Karen E.; Elmendorf, Douglas W. and Sichel, Daniel E. "Can Financial Innovation Help to Explain the Reduced Volatility of Economic Activity?" Journal of Monetary Economics, 2006, 53(1), pp. 123-50.
3. Federal Home Loan Mortgage Corporation. Again and again Freddie Mac delivers: 2000 Freddie Mac annual report. Washington, DC: U.S. Federal Home Loan Mortgage Corporation, 2000.
4. Federal Reserve Bank of St. Louis. Economic Data-FRED®. St. Louis: Federal Reserve Bank of St. Louis, 2005.
5. Goebel, Paul R. and Ma, Christopher K. "The Integration of Mortgage Markets and Capital Markets." Journal of the American Real Estate & Urban Economics Association, 1993, 27(4), pp. 511-38.
6. Hancock, Diana and Wilcox, James A. "Has There Been a 'Capital Crunch' in Banking? The Effects on Bank Lending of Real Estate Market Conditions and Bank Capital Short-falls." Journal of Housing Economics, 1993, 3(1), pp. 31-50.
7. Kashyap, Anil and Stein, Jeremy C. "Monetary Policy and Bank Lending," in N. Gregory Mankiw, ed. Monetary policy. Chicago: University of Chicago Press, 1994, pp. 221-56.
8. Peek, Joe and Rosengren, Eric. "The Capital Crunch: Neither a Borrower nor a Lender Be." Journal of Money, Credit, and Banking, 1995, 27(3), pp. 625-38.
9. Peek, Joe and Wikox, James A. "The Baby Boom, 'Pent-up' Demand, and Future House Prices." Journal of Housing Economics, 1991, 1(4), pp. 347-67.
10. Rudolph, Patricia M. and Griffith, John. "Integration of the Mortgage Market into the National Capital Markets: 1963-1993." Journal of Housing Economics, 1997, 6(2), pp. 164-83.
11. Stock, James H. and Watson, Mark W. "Has the Business Cycle Changed? Evidence and Explanations. Presented at Federal Reserve Bank of Kansas City Symposium on Monetary Policy and Uncertainty: Adapting to a Changing Economy, Jackson Hole, WY, August 28-30, 2003.