Monoline Regulations to Control the Systemic Risk Created by Investment Banks and GSEs (2009)
The paper offers a framework and a specific proposal for the re-regulation of key components of the U.S. financial system in the aftermath of the subprime mortgage crisis. It begins with a review of...
Monoline Regulations to Control the Systemic Risk Created by Investment Banks and GSEs (2009)
The paper offers a framework and a specific proposal for the re-regulation of key components of the U.S. financial system in the aftermath of the subprime mortgage crisis. It begins with a review of...
Monoline Regulations to Control the Systemic Risk Created by Investment Banks and GSEs (2009)
The paper offers a framework and a specific proposal for the re-regulation of key components of the U.S. financial system in the aftermath of the subprime mortgage crisis. It begins with a review of...
Monoline Regulations to Control the Systemic Risk Created by Investment Banks and GSEs (2009)
The paper offers a framework and a specific proposal for the re-regulation of key components of the U.S. financial system in the aftermath of the subprime mortgage crisis. It begins with a review of...
Edlin, Aaron S., Jaffee, Dwight M.
Aaron Edlin and Dwight Jaffee wonder: where has all the money and credit gone? Bank reserves at the Fed are monumental, and they suggest a tax on excess reserves.
Edlin, Aaron S., Jaffee, Dwight M.
Aaron Edlin and Dwight Jaffee wonder: where has all the money and credit gone? Bank reserves at the Fed are monumental, and they suggest a tax on excess reserves.
Edlin, Aaron S., Jaffee, Dwight M.
Aaron Edlin and Dwight Jaffee wonder: where has all the money and credit gone? Bank reserves at the Fed are monumental, and they suggest a tax on excess reserves.
Edlin, Aaron S., Jaffee, Dwight M.
Aaron Edlin and Dwight Jaffee wonder: where has all the money and credit gone? Bank reserves at the Fed are monumental, and they suggest a tax on excess reserves.
The financial distress of investment banks and the GSEs (government sponsored enterprises, namely Fannie Mae and Freddie Mac) has received intense focus recently in both financial markets and...
Reregulating Fannie Mae and Freddie Mac (2008)
This paper offers a framework and a specific proposal for the reregulation of Fannie Mae and Freddie Mac (hereafter F&F) in the aftermath of the subprime mortgage crisis and their conservatorship....
Regulating the Investment Banks and GSEs After the Subprime Crisis (2008)
This paper offers a framework and a specific proposal for the re-regulation of the US investment banks and government sponsored enterprises (GSEs, Fannie Mae and Freddie Mac) in the aftermath of the...
Insurance Equilibrium with Monoline and Multiline Insurers (2008)
Ibragimov , Rustam, Jaffee, Dwight M., Walden, Johan
We study a competitive multiline insurance industry, in which insurance companies with limited liability choose which insurance lines to cover and the amount of capital to hold. The results are...
Investment Banking Regulation After Bear Stearns (2008)
Jaffee, Dwight M., Perlow, Mark
The Bear Stearns bailout created an implicit guarantee that will create a great deal of moral hazard unless we smartly regulate investment banks in a way that doesn't destroy their value; so say...
Investment Banking Regulation After Bear Stearns (2008)
Jaffee, Dwight M., Perlow, Mark
The Bear Stearns bailout created an implicit guarantee that will create a great deal of moral hazard unless we smartly regulate investment banks in a way that doesn't destroy their value; so say...
Investment Banking Regulation After Bear Stearns (2008)
Jaffee, Dwight M., Perlow, Mark
The Bear Stearns bailout created an implicit guarantee that will create a great deal of moral hazard unless we smartly regulate investment banks in a way that doesn't destroy their value; so say...
Investment Banking Regulation After Bear Stearns (2008)
Jaffee, Dwight M., Perlow, Mark
The Bear Stearns bailout created an implicit guarantee that will create a great deal of moral hazard unless we smartly regulate investment banks in a way that doesn't destroy their value; so say...
Pricing and Capital Allocation for Multiline Insurance Firms (2008)
Ibragimov , Rustam, Jaffee, Dwight M., Walden, Johan
We study multiline insurance companies with limited liability and limited capital, creating the possibility of insurer default. Insurance premiums are determined by no-arbitrage option pricing...
COMMENTARY Two Key Issues Concerning the Supervision of Bank Safety and Soundness (2008)
and Atlanta and the founding editors of the Journal of Financial Services Research. As Mark Flannery notes, it is a luxury to be asked to prepare a paper to identify major current questions regarding...
The Report of the President’s Commission on Financial Structure and Regula&n [19] (hereafter the Hunt Report) recommends important changes in the regulation, supervision, and operation of all...
Responding to WMD Terrorism Threats: The Role of Insurance Markets (2007)
Jaffee, Dwight M., Russell, Thomas
Insurance offers three important benefits that help an economy deal with the catastrophic losses that arise from both natural disasters and man-made events: risk sharing, mitigation, and price...
Global Capital Flows, Foreign Financing and US Interest Rates (2007)
Bardhan, Ashok Deo, Jaffee, Dwight M.
Almost 45 percent of all US Treasury securities and just under 20 percent of US Agency securities (bonds and MBS) are currently held by foreign investors. This paper addresses key questions...
Terrorism Insurance: Rethinking the Government's Role (2007)
Jaffee, Dwight M, Russell, Thomas
Following a major terrorist attack, private providers of terrorism insurance often cease providing this coverage. As a result, the governments in developed countries around the world now provide some...
Terrorism Insurance: Rethinking the Government's Role (2007)
Jaffee, Dwight M, Russell, Thomas
Following a major terrorist attack, private providers of terrorism insurance often cease providing this coverage. As a result, the governments in developed countries around the world now provide some...
Terrorism Insurance: Rethinking the Government's Role (2007)
Jaffee, Dwight M, Russell, Thomas
Following a major terrorist attack, private providers of terrorism insurance often cease providing this coverage. As a result, the governments in developed countries around the world now provide some...
Terrorism Insurance: Rethinking the Government's Role (2007)
Jaffee, Dwight M, Russell, Thomas
Following a major terrorist attack, private providers of terrorism insurance often cease providing this coverage. As a result, the governments in developed countries around the world now provide some...
What To Do about Fannie and Freddie? (2006)
Glaeser, Edward L, Jaffee, Dwight M
Edward Glaeser and Dwight Jaffee argue that Freddie Mac and Fannie Mae are actively pursuing great risk at taxpayer expense and private profit: the cure is a tax on their $1.5 trillion in borrowing...
What To Do about Fannie and Freddie? (2006)
Glaeser, Edward L, Jaffee, Dwight M
Edward Glaeser and Dwight Jaffee argue that Freddie Mac and Fannie Mae are actively pursuing great risk at taxpayer expense and private profit: the cure is a tax on their $1.5 trillion in borrowing...
What To Do about Fannie and Freddie? (2006)
Glaeser, Edward L, Jaffee, Dwight M
Edward Glaeser and Dwight Jaffee argue that Freddie Mac and Fannie Mae are actively pursuing great risk at taxpayer expense and private profit: the cure is a tax on their $1.5 trillion in borrowing...
What To Do about Fannie and Freddie? (2006)
Glaeser, Edward L, Jaffee, Dwight M
Edward Glaeser and Dwight Jaffee argue that Freddie Mac and Fannie Mae are actively pursuing great risk at taxpayer expense and private profit: the cure is a tax on their $1.5 trillion in borrowing...
Should Governments Provide Catastrophe Insurance? (2006)
Jaffee, Dwight M, Russell, Thomas
Thomas Russell and Dwight Jaffee argue that private markets should be able to insure against catastrophes like Hurricane Katrina or 9/11, but if government must, then it should follow the same...
Should Governments Provide Catastrophe Insurance? (2006)
Jaffee, Dwight M, Russell, Thomas
Thomas Russell and Dwight Jaffee argue that private markets should be able to insure against catastrophes like Hurricane Katrina or 9/11, but if government must, then it should follow the same...
Should Governments Provide Catastrophe Insurance? (2006)
Jaffee, Dwight M, Russell, Thomas
Thomas Russell and Dwight Jaffee argue that private markets should be able to insure against catastrophes like Hurricane Katrina or 9/11, but if government must, then it should follow the same...
Should Governments Provide Catastrophe Insurance? (2006)
Jaffee, Dwight M, Russell, Thomas
Thomas Russell and Dwight Jaffee argue that private markets should be able to insure against catastrophes like Hurricane Katrina or 9/11, but if government must, then it should follow the same...
Globalization, Offshoring, and Economic Convergence: A Synthesis (2005)
This paper discusses the impact that globalization in general and offshoring in particular have on US employment and income. Most recent discussions of offshoring (defined here as the transfer of...
On Limiting the Retained Mortgage Portfolios of Fannie Mae and Freddie Mac (2005)
This paper evaluates a current policy proposal to limit the size of the retained mortgage portfolios held by Fannie Mae and Freddie Mac (hereafter F&F). The proposal is a response to the growing...
The Risk-Based Capital Test for Fannie Mae and (2003)
Freddie Mac Dwight, Dwight M. Jaffee, Gerd M. Welke
In recent years, Fannie Mae and Freddie Mac have enlarged their retained mortgage portfolios, increasing their exposure to interest rate and prepayment risk. In principle, this risk is mitigated by a...
The Regulation of Automobile Insurance in California (2001)
Dwight M. Jaffee, Thomas Russell
this paper, we evaluate the effects of regulation in California's automobile insurance market. Auto insurance is a critical consumer service, so regulation in this market has an important direct...
International Trade and California Employment: Some Statistical Tests (1998)
Professor Dwight, Dwight M. Jaffee, Dwight M. Jaffee, Cynthia A. Kroll, Ashok Deo Bardhan, Josh Kirschenbaum, ...
This paper presents preliminary statistical tests of the effects of rising international trade on California employment. We found a strong positive relationship between exports and manufacturing...
The Causes And Consequences Of Rate Regulation In The Auto Insurance Industry (1997)
Dwight M. Jaffee, Thomas Russell
This paper has been published in David Bradford editor, The Economics of Property-Casualty Insurance, National Bureau of Economic Research, 1998. It is also available as NBER Working paper No. 5245....
Real Estate Markets In Urban Russia (1996)
Dwight M. Jaffee, Olga Z. Kaganova
This paper provides a framework for analyzing the Russian real estate sector during the economy's transition to a market system, discusses the results that have been achieved, and offers...
Strategies to develop mortgage markets in transition economies
Jaffee, Dwight M., Renaud, Bertrand
The transformation of the planned economies of central and eastern Europe to market economies has focused on economic stabilization and liberalization, privatization, and financial sector...
Two key issues concerning the supervision of bank safety and soundness
This commentary focuses on two specific issues. The first asks, What are the market failures that actually create the need for the public regulation of bank safety and soundness? The second issue...
Mortgage Credit Availability and Residential Construction
Dwight M. Jaffee, Kenneth T. Rosen
macroeconomics,mortgage credit, homebuilding
Mortgage Credit Availability and Residential Construction
Dwight M. Jaffee, Kenneth T. Rosen
macroeconomics,mortgage credit, homebuilding
The Globalization of Information and Capital Mobility
William H. Branson, Dwight M. Jaffee
This paper provides a framework for analyzing the effects of symmetric and asymmetric changes in information about risk on equilibrium real interest rate spreads across countries. Following the...
Catastrophe Insurance, Capital Markets and Uninsurable Risks
Dwight M. Jaffee, Thomas Russell
This paper examines the causes of the failure of the private market for catastrophe insurance and examines some public solutions. Although the standard explanations of insurance market failure...
Monoline Regulations to Control the Systemic Risk Created by Investment Banks and GSEs
The paper offers a framework and a specific proposal for the re-regulation of key components of the U.S. financial system in the aftermath of the subprime mortgage crisis. It begins with a review of...
Investment Banking Regulation After Bear Stearns
The Bear Stearns bailout created an implicit guarantee that will create a great deal of moral hazard unless we smartly regulate investment banks in a way that doesn't destroy their value; so say...
Should Governments Provide Catastrophe Insurance?
Dwight M. Jaffee, Thomas Russell
Thomas Russell and Dwight Jaffee argue that private markets should be able to insure against catastrophes like Hurricane Katrina or 9/11, but if government must, then it should follow the same...
Aaron S. Edlin, Dwight M. Jaffee
Aaron Edlin and Dwight Jaffee wonder: where has all the money and credit gone? Bank reserves at the Fed are monumental, and they suggest a tax on excess reserves.
What To Do about Fannie and Freddie?
Edward L. Glaeser, Dwight M. Jaffee
Edward Glaeser and Dwight Jaffee argue that Freddie Mac and Fannie Mae are actively pursuing great risk at taxpayer expense and private profit: the cure is a tax on their $1.5 trillion in borrowing...