Housing and the Macroeconomy: The Role of Implicit Guarantees for Government Sponsored Enterprises

Dirk Krueger () and Karsten Jeske

No 100, 2004 Meeting Papers from Society for Economic Dynamics

Abstract: This paper deals with the macroeconomic effects of government guarantees on debt issued by Government-Sponsored Enterprises. We set up an economy with a housing and mortgage market where the government provides banks with insurance against aggregate shocks to mortgage default risk. We then study the aggregate and distributional effects coming from this subsidy

Keywords: Housing; Mortgage Market; Default Risk (search for similar items in EconPapers)
JEL-codes: E21 G11 R21 (search for similar items in EconPapers)
Date: 2004
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Related works:
Working Paper: Housing and the Macroeconomy: The Role of Implicit Guarantees for Government Sponsored Enterprises (2005)
Working Paper: Housing and the macroeconomy: the role of implicit guarantees for government-sponsored enterprises (2005)
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