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Author : Fabrizio Mattesini
Publisher :
ISBN 13 :
Total Pages : 30 pages
Book Rating : 4.:/5 (955 download)
Download or read book Government Intervention in the Credit Market and Economic Growth written by Fabrizio Mattesini and published by . This book was released on 1995 with total page 30 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Sarah L. Quinn
Publisher : Princeton University Press
ISBN 13 : 0691185611
Total Pages : 310 pages
Book Rating : 4.6/5 (911 download)
Download or read book American Bonds written by Sarah L. Quinn and published by Princeton University Press. This book was released on 2019-07-16 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Author : Baird Webel
Publisher : DIANE Publishing
ISBN 13 : 1437929699
Total Pages : 44 pages
Book Rating : 4.4/5 (379 download)
Download or read book Government Interventions in Response to Financial Turmoil written by Baird Webel and published by DIANE Publishing. This book was released on 2011 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This is a print on demand edition of a hard to find publication. Contents: (1) Intro.: Estimating the Costs of Gov¿t. Interventions; (2) Troubled Asset Relief Program (TARP): Capital Purchase Program and Capital Assistance Program; Home Affordable Modification Program; U.S. Automakers; (3) Federal Reserve: Term Auction Facility; Term Securities Lending Facility; Primary Dealer Credit Facility; Term Asset-Backed Securities Loan Facility; Central Bank Liquidity Swaps; Bear Stearns; (4) FDIC: Temporary Liquidity Guarantee Program; (5) U.S. Dept. of the Treasury: Money Market Mutual Fund Guarantee Program; (6) Joint Interventions: Public Private Investment Program: Legacy Loan Program; Legacy Securities Program; AIG; Fannie Mae and Freddie Mac; Citigroup; Bank of America. Charts and tables.
Author : Ben R. Craig
Publisher :
ISBN 13 :
Total Pages : 38 pages
Book Rating : 4.:/5 (129 download)
Download or read book On Government Intervention in the Small-Firm Credit Market and its Effect on Economic Performance written by Ben R. Craig and published by . This book was released on 2007 with total page 38 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we empirically test whether the Small Business Administration's main guaranteed lending program - the 7(a) program - has a greater impact on economic performance in low income markets than in others. This hypothesis is predicated on our previous research (Craig, Jackson, and Thomson 2007b), where we investigate aggregate SBA guaranteed lending. In that research we found that the overall impact of SBA guaranteed lending on economic performance is significant and positive in low-income markets. Using local labor market employment rates as our measure of economic performance, we find a quantitatively similar positive impact of SBA 7(a) guaranteed lending. This impact on economic performance is also significantly larger in low-income areas than in other areas. This result suggests that the 7(a) program, which is the largest SBA guaranteed lending program, is also the main contributor to the positive impact of SBA guaranteed lending on local market economic performance.
Author : Je Cho Yoon
Publisher : World Bank Publications
ISBN 13 :
Total Pages : 35 pages
Book Rating : 4./5 ( download)
Download or read book The government's role in japanese and Korean credit markets : a new instituucional economics perspective written by Je Cho Yoon and published by World Bank Publications. This book was released on 1993 with total page 35 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Eric S. Belsky
Publisher :
ISBN 13 :
Total Pages : 0 pages
Book Rating : 4.:/5 (137 download)
Download or read book The Public Interest in Consumer and Mortgage Credit Markets written by Eric S. Belsky and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper examines mortgage credit markets and the need for government intervention to protect and advance the public interest. We identify as rationales for the public interest: positive and negative externalities, the promotion of equal access, and information asymmetry and principal agent problems. We point to the role of market conduct and structure, as well as information asymmetry and principal agent problems, as prominent sources for the US mortgage debacle. While it is beyond the scope of this paper to outline a reform program, this paper points, in the aftermath of the crisis, to a need for a framework to address information and principal agent issues in the conduct and structure of mortgage markets. As a new framework for mortgage markets is developed, attention needs to be placed on the role that information on loan quality and pricing plays for borrowers' and investors' appropriate pricing and allocation of capital.
Author : R. Glenn Hubbard
Publisher : University of Chicago Press
ISBN 13 : 0226355942
Total Pages : 354 pages
Book Rating : 4.2/5 (263 download)
Download or read book Asymmetric Information, Corporate Finance, and Investment written by R. Glenn Hubbard and published by University of Chicago Press. This book was released on 2009-05-15 with total page 354 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this volume, specialists from traditionally separate areas in economics and finance investigate issues at the conjunction of their fields. They argue that financial decisions of the firm can affect real economic activity—and this is true for enough firms and consumers to have significant aggregate economic effects. They demonstrate that important differences—asymmetries—in access to information between "borrowers" and "lenders" ("insiders" and "outsiders") in financial transactions affect investment decisions of firms and the organization of financial markets. The original research emphasizes the role of information problems in explaining empirically important links between internal finance and investment, as well as their role in accounting for observed variations in mechanisms for corporate control.
Author : Mr.Jorge Roldos
Publisher : International Monetary Fund
ISBN 13 : 1451922779
Total Pages : 26 pages
Book Rating : 4.4/5 (519 download)
Download or read book The Role of Credit Markets in a Transition Economy with Incomplete Public Information written by Mr.Jorge Roldos and published by International Monetary Fund. This book was released on 1996-02-01 with total page 26 pages. Available in PDF, EPUB and Kindle. Book excerpt: In this paper we explore some of the informational problems that constrain the development of credit markets in transition economies. We characterize investment patterns under uncertainty and high costs of entry, when agents learn about the ultimate value of enterprises through production in a Bayesian way. Inefficiencies due to the lack of public information reduce the average return to capital. Under asymmetric information, credit would go to activities that can provide enough co-finance. Credit markets may fail to develop for a while if there is not enough individual wealth to complement credit. Once they operate, credit markets may magnify distortions in equity markets, such as those due to spontaneous privatization. An argument for the sequencing of capital market liberalization is provided.
Author : Sarah L. Quinn
Publisher : Princeton University Press
ISBN 13 : 0691227071
Total Pages : 309 pages
Book Rating : 4.6/5 (912 download)
Download or read book American Bonds written by Sarah L. Quinn and published by Princeton University Press. This book was released on 2021-08-10 with total page 309 pages. Available in PDF, EPUB and Kindle. Book excerpt: How the American government has long used financial credit programs to create economic opportunities Federal housing finance policy and mortgage-backed securities have gained widespread attention in recent years because of the 2008 financial crisis, but issues of government credit have been part of American life since the nation’s founding. From the 1780s, when a watershed national land credit policy was established, to the postwar foundations of our current housing finance system, American Bonds examines the evolution of securitization and federal credit programs. Sarah Quinn shows that since the Westward expansion, the U.S. government has used financial markets to manage America’s complex social divides, and politicians and officials across the political spectrum have turned to land sales, home ownership, and credit to provide economic opportunity without the appearance of market intervention or direct wealth redistribution. Highly technical systems, securitization, and credit programs have been fundamental to how Americans determined what they could and should owe one another. Over time, government officials embraced credit as a political tool that allowed them to navigate an increasingly complex and fractured political system, affirming the government’s role as a consequential and creative market participant. Neither intermittent nor marginal, credit programs supported the growth of powerful industries, from railroads and farms to housing and finance; have been used for disaster relief, foreign policy, and military efforts; and were promoters of amortized mortgages, lending abroad, venture capital investment, and mortgage securitization. Illuminating America’s market-heavy social policies, American Bonds illustrates how political institutions became involved in the nation’s lending practices.
Author : United States. Office of Management and Budget
Publisher :
ISBN 13 :
Total Pages : 316 pages
Book Rating : 4.:/5 (31 download)
Download or read book Special Analyses, Budget of the United States Government written by United States. Office of Management and Budget and published by . This book was released on 1972 with total page 316 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Collateral, Rationing, and Government Intervention in Credit Markets written by and published by . This book was released on 1989 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Ernesto Sepuĺveda
Publisher :
ISBN 13 :
Total Pages : 222 pages
Book Rating : 4.:/5 (248 download)
Download or read book Credit Markets with Imperfect Information and Economic Development written by Ernesto Sepuĺveda and published by . This book was released on 2001 with total page 222 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Financial Crisis Inquiry Commission
Publisher : Cosimo, Inc.
ISBN 13 : 1616405414
Total Pages : 692 pages
Book Rating : 4.6/5 (164 download)
Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.
Author : Mr.Luc Laeven
Publisher : International Monetary Fund
ISBN 13 : 1455218979
Total Pages : 37 pages
Book Rating : 4.4/5 (552 download)
Download or read book The Real Effects of Financial Sector Interventions During Crises written by Mr.Luc Laeven and published by International Monetary Fund. This book was released on 2011-03-01 with total page 37 pages. Available in PDF, EPUB and Kindle. Book excerpt: We collect new data to assess the importance of supply-side credit market frictions by studying the impact of financial sector recapitalization packages on the growth performance of firms in a large cross-section of 50 countries during the recent crisis. We develop an identification strategy that uses the financial crisis as a shock to credit supply and exploits exogenous variation in the degree to which firms depend on external financing for investment needs, and focus on policy interventions aimed at alleviating the bank capital crunch. We find that the growth of firms dependent on external financing is disproportionately positively affected by bank recapitalization policies, and that this effect is quantitatively important and robust to controlling for other financial sector support policies. We also find that fiscal policy disproportionately boosted growth of firms more dependent on external financing. These results provide new evidence of a quantitatively important role of credit market frictions in influencing real economic activity.
Author : Arvind Virmani
Publisher :
ISBN 13 :
Total Pages : 54 pages
Book Rating : 4.3/5 ( download)
Download or read book Credit Markets and Credit Policy in Developing Countries written by Arvind Virmani and published by . This book was released on 1985 with total page 54 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Author : Mr.Etibar Jafarov
Publisher : International Monetary Fund
ISBN 13 : 151351248X
Total Pages : 66 pages
Book Rating : 4.5/5 (135 download)
Download or read book Financial Repression is Knocking at the Door, Again written by Mr.Etibar Jafarov and published by International Monetary Fund. This book was released on 2019-09-30 with total page 66 pages. Available in PDF, EPUB and Kindle. Book excerpt: Financial repression (legal restrictions on interest rates, credit allocation, capital movements, and other financial operations) was widely used in the past but was largely abandoned in the liberalization wave of the 1990s, as widespread support for interventionist policies gave way to a renewed conception of government as an impartial referee. Financial repression has come back on the agenda with the surge in public debt in the wake of the Global Financial Crisis, and some countries have reintroduced administrative ceilings on interest rates. By distorting market incentives and signals, financial repression induces losses from inefficiency and rent-seeking that are not easily quantified. This study attempts to assess some of these losses by estimating the impact of financial repression on growth using an updated index of interest rate controls covering 90 countries over 45 years. The results suggest that financial repression poses a significant drag on growth, which could amount to 0.4-0.7 percentage points.
Author : Economic Council of Canada
Publisher :
ISBN 13 :
Total Pages : 206 pages
Book Rating : 4.3/5 (91 download)
Download or read book Intervention and Efficiency written by Economic Council of Canada and published by . This book was released on 1982 with total page 206 pages. Available in PDF, EPUB and Kindle. Book excerpt: Monograph on the role of public sector banks and government agencys in the provision of credit, credit insurance and investment guarantys (state intervention in the financial market) in Canada - discusses trends since 1930, institutional framework, objectives and instruments (incl. Agricultural credit, consumer credit, export credit, housing mortgages and housing subsidy, and the impact on export promotion, economic growth, etc., and provides comparisons with OECD countries. Diagrams, graphs and references.
