AEI housing and banking: Experts, highlights, and headlines

Financial services scholars

Stephen D. Oliner Co-Director, International Center on Housing Risk Tags: Housing finance, loan risk

 

Paul Kupiec Resident Scholar Research areas: Federal reserve, Basil III, Wall Street and banking, Systemic risk

 

Peter J. Wallison Arthur F. Burns Fellow, Financial Policy Studies Research areas: Financial services/markets, GSEs, Accounting/housing policy

Edward J. Pinto Co-Director, International Center on Housing Risk Tags: Housing finance, mortgage insurance, Real estate/home appraisals

 

Alex Pollock Resident Fellow Research areas: Financial regulation, Mortgage/ retirement finance and risk,  US banking system

Headlines and Highlights

Roadkill in the Fed’s race to regulate shadow banking
Peter J. Wallison, The Wall Street Journal
GE’s withdrawal from the financial-services business is being hailed in Washington as a victory over “shadow banking.” This is akin to celebrating the criminal-justice system when a prisoner hangs himself in his cell. 

How to revive the private mortgage market  
Alex J. Pollock, The Wall Street Journal 
In order to revive the private secondary-mortgage market, Congress instructed the FHFA to raise the fees, told the agency how to do it, and gave the agency a 2013 deadline. That deadline is long past. It is time for the FHFA to obey the law.

Financial stability: Should we trust in central bank superheroes 
Paul Kupiec
Central bankers want to control the economy using macroprudental regulation to allocate savings. Which outcome will we get?  

How fast are semiconductor prices falling?  
Stephen D. Oliner, Daniel E. Sichel, David M. Byrne, AEI Economic Policy Working Paper Series
The recent slowdown in the rate of decline for semiconductor prices suggested by the PPI is puzzling in light of evidence that the performance of MPUs has continued to improve at a rapid pace. The authors argue that hedonic indexes provide a more accurate measure of price changes. 

Going back home
Mark J. Perry, Edward J. Pinto
After 25 years of affordable housing policies, the U.S. homeownership rate is back to where it was in 1990. 

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