Consumer Price Index – All Urban Consumers,

1-Year Treasury Constant Maturity Rate,  The new agency FHFA has taken over the functions of OFHEO. Look on this website for a publication called something like “House Price Index”,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.

1-month Treasury Bill Rate:

Effective federal funds rate (borrowing rate for small banks):

LIBOR (borrowing rate for large banks):

Federal Reserve loans:


Monthly consumption: . Select Table 2.8.6 . Select Table 1.1.6 . Select Total Nonfarm Employment – Seasonally Adjusted – CES0000000001

Basic Housing Data:


A paper that finds foreclosure costs of 32 percent:

An analysis of FHA data that gets a smaller number, more like 10 percent:


Fannie’s house price index:


Forecasts for the U.S. Economy

Housing market

Charles Calomiris, “The Subprime Turmoil: What’s Old, What’s New, and What’s Next”

Christopher Foote, Kristopher Gerardi, Lorenz Goette, and Paul Willen, “Subprime Facts: What (We Think) We Know about the Subprime Crises and What We Don’t

Christopher Mayer and R. Glenn Hubbard, “House Prices, Interest Rates, and Mortgage Market Meltdown”

Financial crisis

Markus Brunnermeir, “Deciphering the 2007-08 Liquidity and Credit Crunch

Willem Buiter, “Lessons from the North Atlantic financial crisis” . Also see his blog:

Giovanni Dell’Ariccia, Deniz Igan, and Luc Laeven, “Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market”

John Geanakoplos, “Solving the Present Crisis and Managing the Leverage Cycle”

Gary B. Gorton, “The Panic of 2007”,

David Greenlaw, Jan Hatzius, Anil Kashyap, and Hyun Shin “Leveraged Losses: Lessons from the Mortgage Market Meltdown (Final Report)”

V.V. Chari, Lawrence Christiano, and Patrick Kehoe, “Facts and Myths about the Financial Crisis of 2008

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’”

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., with a related op ed.

“Paulson’s Gift” estimates the actual value of the Treasury’s investments under TARP. , with other commentary.

The Treasury reports its activities under TARP at

Data on 10-year Treasury bonds (constant maturity) and conventional mortgages:


Immediate Policy

John H. Cochrane, “The monster returns” and other material at


Larry Cordell, Karen Dynan, Andreas Lehnert, Nellie Liang, and Eileen Mauskopf, “The Incentives of Mortgage Servicers: Myths and Realities”

Sheila Bair’s FDIC proposal:

Mayer-Hubbard proposal:

Kotlikoff-Leamer on consumption subsidy:

Comments are closed.


Get every new post delivered to your Inbox.

Join 32 other followers

%d bloggers like this: