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Title:The effects of a declining housing market on the US economy PDF Logo
Authors:Papadimitriou, Dimitri B.
Hannsgen, Greg
Zezza, Gennaro
Issue Date:2007
Series/Report no.:Working papers // The Levy Economics Institute 506
Abstract:Longstanding speculation about the likelihood of a housing market collapse has given way in the past few months to consideration of just how far the housing market will fall, and how much damage the debacle will inflict on the economy. This paper assesses the magnitude of the impact of housing price decreases on real private expenditure, examines the role of new types of mortgages and mortgage-related securities, and analyzes possible policy responses.
Subjects:Housing Bubble
Housing Prices
Housing and Growth
Housing and Monetary Policy
Stability and Housing Prices
Housing Price Inflation
Securitization
Subprime Mortgages
Consumption
JEL:E21
E30
E44
G10
G21
G23
G28
R31
Document Type:Working Paper
Appears in Collections:Working Papers, Levy Economics Institute of Bard College

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