The effects of mortgage prepayments on M2
By:Yueh-Yun C. O'Brien
Published on 2005 by
Mortgage prepayments can contribute significantly to fluctuations in M2 growth rates. These mortgage prepayment effects are primarily driven by certain rules of mortgage-backed-security (MBS) insurers that require mortgage servicers to hold in M2-type deposits the prepayment proceeds due to MBS investors. This paper provides a methodology for estimating prepayment effects on M2. The effects are estimated separately for refinancing and home sales. The results indicate that excluding the mortgage prepayment effects from M2 produces smoother monthly growth rates. The stability of the relationship between money and GDP as measured by M2 velocity is also increased. Refinancing prepayments account for most of the prepayment effects on M2.
This Book was ranked at 24 by Google Books for keyword Mortgage.
Book ID of The effects of mortgage prepayments on M2's Books is EHhaAAAAYAAJ, Book which was written byYueh-Yun C. O'Brienhave ETAG "9oxf4A6D9h0"
Book which was published by since 2005 have ISBNs, ISBN 13 Code is and ISBN 10 Code is
Reading Mode in Text Status is false and Reading Mode in Image Status is false
Book which have "45 Pages" is Printed at BOOK under CategoryBusiness and Economics
This Book was rated by Raters and have average rate at ""
This eBook Maturity (Adult Book) status is NOT_MATURE
Book was written in en
eBook Version Availability Status at PDF is falseand in ePub is false
0 Response to "The effects of mortgage prepayments on M2"
Post a Comment