CenFIS Working Papers feature the research of visiting scholars and distinguished economists. The papers are intended to stimulate professional discussion about financial innovation and financial stability and associated policies. Online only.
2010
The Relationship between Mortgage Markets and House Prices: Does Financial Instability Make the Difference?
Santiago Carbó Valverde and Francisco Rodríguez Fernández
CenFIS Working Paper 10-02
February 2010
The authors present evidence that the effect of mortgage lending on housing prices increased in 2001 in Spain. They suggest this change may be related to securitization of mortgage loans.
Investment Performance Evaluation
Wayne E. Ferson
CenFIS Working Paper 10-01
January 2010
The author reviews the rapidly developing literature on investment performance evaluation, summarizing the significant forces and contributions in that field and suggesting directions for future research.
2009
U.S. Monetary Policy and the Financial Crisis
James R. Lothian
CenFIS Working Paper 09-01
December 2009
Comparing monetary policy before and during the current recession to policy during the Great Depression, the author discusses what policymakers must do to avoid an inflation surge and the likely difficulties of making necessary policy shifts.
