Links

Consumer Price Index – All Urban Consumers, 

http://data.bls.gov/cgi-bin/surveymost?cu

1-Year Treasury Constant Maturity Rate, http://research.stlouisfed.org/fred2/series/GS1/downloaddata?cid=115

http://www.fhfa.gov/  The new agency FHFA has taken over the functions of OFHEO. Look on this website for a publication called something like “House Price Index”

http://www2.standardandpoors.com/portal/site/sp/en/us/page.topic/indices_csmahp/2,3,4,0,0,0,0,0,0,0,3,0,0,0,0,0.html  From here you can download a variety of Excel spreadsheets with national and metro house price indexes.

http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=N

1-month Treasury Bill Rate: http://www.federalreserve.gov/releases/h15/data/Monthly/H15_TCMNOM_M1.txt

Effective federal funds rate (borrowing rate for small banks): http://www.federalreserve.gov/releases/h15/data/Monthly/H15_FF_O.txt

LIBOR (borrowing rate for large banks): http://www.fhlbdm.com/rg_history.htm

Federal Reserve loans: http://www.federalreserve.gov/releases/h41/hist/h41hist4.txt

 

Monthly consumption: http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=N . Select Table 2.8.6

 

http://www.bea.gov/national/nipaweb/SelectTable.asp?Selected=N . Select Table 1.1.6

 

http://data.bls.gov/cgi-bin/surveymost?ce . Select Total Nonfarm Employment – Seasonally Adjusted – CES0000000001

Basic Housing Data: http://www.census.gov/hhes/www/housing/hvs/qtr208/files/q208press.pdf

 

A paper that finds foreclosure costs of 32 percent: http://ideas.repec.org/a/jre/issued/v9n31994p313-318.html

An analysis of FHA data that gets a smaller number, more like 10 percent: http://ideas.repec.org/a/jre/issued/v13n11997p95-102.html

Fannie: http://www.sec.gov/Archives/edgar/data/310522/000095013308003686/0000950133-08-003686-index.htm

Fannie’s house price index: http://www.fanniemae.com/ir/pdf/earnings/2008/q32008.pdf

Freddie:http://www.sec.gov/Archives/edgar/data/1026214/000102621408000043/f65508e10vq.htm#111

Forecasts for the U.S. Economy

http://www.nabe.com/publib/macsum.html

http://www.conference-board.org/economics/stalk.cfm

http://www.kiplinger.com/businessresource/economic_outlook/

http://www.bmonesbittburns.com/economics/forecast/us/usmodel.pdf

http://rsqe.econ.lsa.umich.edu/summary.pdf

Housing market

Charles Calomiris, “The Subprime Turmoil: What’s Old, What’s New, and What’s Next” http://www4.gsb.columbia.edu/cbs-directory/detail/494785/Charles+Calomiris

Christopher Foote, Kristopher Gerardi, Lorenz Goette, and Paul Willen, “Subprime Facts: What (We Think) We Know about the Subprime Crises and What We Don’thttp://www.bos.frb.org/economic/econbios/willen.htm

Christopher Mayer and R. Glenn Hubbard, “House Prices, Interest Rates, and Mortgage Market Meltdown” http://www2.gsb.columbia.edu/faculty/cmayer/

Financial crisis

Markus Brunnermeir, “Deciphering the 2007-08 Liquidity and Credit Crunchhttp://www.princeton.edu/~markus/

Willem Buiter, “Lessons from the North Atlantic financial crisis” http://www.voxeu.org/index.php?q=node/830 . Also see his blog: http://blogs.ft.com/maverecon/

Giovanni Dell’Ariccia, Deniz Igan, and Luc Laeven, “Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market” http://www.imf.org/external/pubs/cat/longres.cfm?sk=21900.0

John Geanakoplos, “Solving the Present Crisis and Managing the Leverage Cycle” http://cowles.econ.yale.edu/~gean/crisis/index.htm

Gary B. Gorton, “The Panic of 2007”, http://www.kc.frb.org/home/subwebnav.cfm?level=3&theID=10697&SubWeb=10660

David Greenlaw, Jan Hatzius, Anil Kashyap, and Hyun Shin “Leveraged Losses: Lessons from the Mortgage Market Meltdown (Final Report)” http://faculty.chicagogsb.edu/anil.kashyap/research/

V.V. Chari, Lawrence Christiano, and Patrick Kehoe, “Facts and Myths about the Financial Crisis of 2008http://www.minneapolisfed.org/research/economists/staff_display.cfm?id=8

Ethan Cohen-Cole, Burcu Duygan-Bump, José Fillat, and Judit Montoriol-Garriga  Looking Behind the Aggregates: A Reply to ‘Facts and Myths about the Financial Crisis of 2008’” http://www.bos.frb.org/bankinfo/qau/wp/index.htm

David Scharfstein and Victoria Ivashina, “Bank Lending During the Financial Crisis of 2008” shows that overall lending has remained high, but mostly to lose with established bank relationships. http://www.people.hbs.edu/dscharfstein/, with a related op ed.

“Paulson’s Gift” estimates the actual value of the Treasury’s investments under TARP. http://faculty.chicagogsb.edu/luigi.zingales/research/ , with other commentary.

The Treasury reports its activities under TARP at http://www.ustreas.gov/initiatives/eesa/

Data on 10-year Treasury bonds (constant maturity) and conventional mortgages: http://www.federalreserve.gov/releases/h15/data.htm

Recession

http://www.macroadvisers.com/content/MA_Monthly_GDP_Index.xls

http://www.morganstanley.com/views/gef/index.html

Immediate Policy

John H. Cochrane, “The monster returns” and other material at http://faculty.chicagogsb.edu/john.cochrane/research/Papers/

HOPE NOW: http://www.hopenow.com/

Larry Cordell, Karen Dynan, Andreas Lehnert, Nellie Liang, and Eileen Mauskopf, “The Incentives of Mortgage Servicers: Myths and Realities” http://www.federalreserve.gov/PUBS/FEDS/2008/200846/200846pap.pdf

Sheila Bair’s FDIC proposal: http://www.fdic.gov/consumers/loans/loanmod/index.html

Mayer-Hubbard proposal: http://www4.gsb.columbia.edu/realestate/research/mortgagemarket#Q1

Kotlikoff-Leamer on consumption subsidy: http://blogs.ft.com/wolfforum/2008/10/running-a-national-sale/

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