Download or read book Essays on Information Frictions and Foreclosure Prevention written by Lauri Valtteri Kytömaa and published by . This book was released on 2023 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Mortgage foreclosure has broad social costs that impact all participants in housing markets. Due to these costs, and the reluctance of mortgage servicers to independently renegotiate with borrowers, governments often provide direct incentives to servicers for granting debt forgiveness to financially distressed borrowers, instead of foreclosing on their homes. This dissertation investigates economic frictions that impede the provision of debt relief to residential mortgage borrowers experiencing financial distress. In the first chapter, I highlight the contribution of this dissertation to the literature, provide an overview of the mortgage foreclosure crisis in the United States, illustrate the central economic forces of this project with a theoretical model, and describe the residential mortgage data used in my empirical work. The theoretical model focuses on how information asymmetry between a mortgage servicer and his borrowers can lead to market unraveling, in the sense that no borrower receives debt relief even if granting it would be social-welfare improving. The chapter concludes with reduced-form evidence on the causal effect of debt relief through loan-term modifications on the probability of foreclosure. In the second chapter, I present an empirical model of foreclosure prevention and report estimated results based on my sample. Consistent with recent work in the economics literature, my results also suggest that historical estimates for the social costs of foreclosure are too low, while also highlighting how information asymmetry can lead to the misallocation of debt relief. I find that there are significant benefits in correctly targeted relief for both borrowers and their servicers. Nevertheless, I also find that the social loss from failing to grant a modification that would prevent a foreclosure is significantly larger than the private loss for a loan servicer. Conversely, the social loss from incorrectly granting a modification to a borrower that did not need it is much smaller than the private loss faced by the servicer. The relationship between private and social losses of modification highlight how servicer incentives can impede socially beneficial debt relief to borrowers. In the third chapter, I leverage my results to study the effectiveness of the Federal Government's Home Affordable Modification Program (HAMP), which was launched in 2009 in response to mounting U.S. foreclosures. My empirical framework allows me to quantify the effects of government incentive payments granted to loan servicers and to assess the level of relief granted under the program

Download or read book The Next Digital Decade written by Berin Szoka and published by TechFreedom. This book was released on 2011-06-10 with total page 578 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book The Financial Crisis Inquiry Report written by Financial Crisis Inquiry Commission and published by Cosimo, Inc.. This book was released on 2011-05-01 with total page 692 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Financial Crisis Inquiry Report, published by the U.S. Government and the Financial Crisis Inquiry Commission in early 2011, is the official government report on the United States financial collapse and the review of major financial institutions that bankrupted and failed, or would have without help from the government. The commission and the report were implemented after Congress passed an act in 2009 to review and prevent fraudulent activity. The report details, among other things, the periods before, during, and after the crisis, what led up to it, and analyses of subprime mortgage lending, credit expansion and banking policies, the collapse of companies like Fannie Mae and Freddie Mac, and the federal bailouts of Lehman and AIG. It also discusses the aftermath of the fallout and our current state. This report should be of interest to anyone concerned about the financial situation in the U.S. and around the world.THE FINANCIAL CRISIS INQUIRY COMMISSION is an independent, bi-partisan, government-appointed panel of 10 people that was created to "examine the causes, domestic and global, of the current financial and economic crisis in the United States." It was established as part of the Fraud Enforcement and Recovery Act of 2009. The commission consisted of private citizens with expertise in economics and finance, banking, housing, market regulation, and consumer protection. They examined and reported on "the collapse of major financial institutions that failed or would have failed if not for exceptional assistance from the government."News Dissector DANNY SCHECHTER is a journalist, blogger and filmmaker. He has been reporting on economic crises since the 1980's when he was with ABC News. His film In Debt We Trust warned of the economic meltdown in 2006. He has since written three books on the subject including Plunder: Investigating Our Economic Calamity (Cosimo Books, 2008), and The Crime Of Our Time: Why Wall Street Is Not Too Big to Jail (Disinfo Books, 2011), a companion to his latest film Plunder The Crime Of Our Time. He can be reached online at www.newsdissector.com.

Download or read book Doing Business 2020 written by World Bank and published by World Bank Publications. This book was released on 2019-11-21 with total page 241 pages. Available in PDF, EPUB and Kindle. Book excerpt: Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Download or read book Specialization and Trade written by Arnold Kling and published by Cato Institute. This book was released on 2016-06-14 with total page 223 pages. Available in PDF, EPUB and Kindle. Book excerpt: Since the end of the second World War, economics professors and classroom textbooks have been telling us that the economy is one big machine that can be effectively regulated by economic experts and tuned by government agencies like the Federal Reserve Board. It turns out they were wrong. Their equations do not hold up. Their policies have not produced the promised results. Their interpretations of economic events -- as reported by the media -- are often of-the-mark, and unconvincing. A key alternative to the one big machine mindset is to recognize how the economy is instead an evolutionary system, with constantly-changing patterns of specialization and trade. This book introduces you to this powerful approach for understanding economic performance. By putting specialization at the center of economic analysis, Arnold Kling provides you with new ways to think about issues like sustainability, financial instability, job creation, and inflation. In short, he removes stiff, narrow perspectives and instead provides a full, multi-dimensional perspective on a continually evolving system.

Download or read book Dumping written by Jacob Viner and published by . This book was released on 1923 with total page 366 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Dreamscapes of Modernity written by Sheila Jasanoff and published by University of Chicago Press. This book was released on 2015-09-02 with total page 363 pages. Available in PDF, EPUB and Kindle. Book excerpt: Dreamscapes of Modernity offers the first book-length treatment of sociotechnical imaginaries, a concept originated by Sheila Jasanoff and developed in close collaboration with Sang-Hyun Kim to describe how visions of scientific and technological progress carry with them implicit ideas about public purposes, collective futures, and the common good. The book presents a mix of case studies—including nuclear power in Austria, Chinese rice biotechnology, Korean stem cell research, the Indonesian Internet, US bioethics, global health, and more—to illustrate how the concept of sociotechnical imaginaries can lead to more sophisticated understandings of the national and transnational politics of science and technology. A theoretical introduction sets the stage for the contributors’ wide-ranging analyses, and a conclusion gathers and synthesizes their collective findings. The book marks a major theoretical advance for a concept that has been rapidly taken up across the social sciences and promises to become central to scholarship in science and technology studies.

Download or read book International Friction and Cooperation in High Technology Development and Trade written by National Research Council and published by National Academies Press. This book was released on 1997-10-10 with total page 451 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book My Tech Wise Life written by Amy Crouch and published by Baker Books. This book was released on 2020-11-17 with total page 187 pages. Available in PDF, EPUB and Kindle. Book excerpt: It's time to take our power back We can barely imagine our lives without technology. Tech gives us tools to connect with our friends, listen to our music, document our lives, share our opinions, and keep up with what's going on in the world. Yet it also tempts us to procrastinate, avoid honest conversations, compare ourselves with others, and filter our reality. Sometimes, it feels like our devices have a lot more control over us than we have over them. But it doesn't have to be that way. In fact, we deserve so much more than what technology offers us. And when we're wise about how we use our devices, we can get more--more joy, more connection, more out of life. Tech shouldn't get in the way of a life worth living. Let's get tech-wise.

Download or read book Property And Persuasion written by Carol M Rose and published by Routledge. This book was released on 2019-09-05 with total page 289 pages. Available in PDF, EPUB and Kindle. Book excerpt: With socialism largely discredited in recent years, the moral and legal status of private property has become an increasingly important area for discussion in contemporary political and social thought. Offering a contribution to legal theory, and to political and social philosophy, this work examines the two currently dominant traditions - those of neo-conservative utilitarianism and liberal communitarianism - emphasizing the strengths of both approaches and laying the groundwork for a theory to bridge the gap between them.

Download or read book An Evolutionary Theory of Economic Change written by Richard R. Nelson and published by Harvard University Press. This book was released on 1985-10-15 with total page 456 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book contains the most sustained and serious attack on mainstream, neoclassical economics in more than forty years. Nelson and Winter focus their critique on the basic question of how firms and industries change overtime. They marshal significant objections to the fundamental neoclassical assumptions of profit maximization and market equilibrium, which they find ineffective in the analysis of technological innovation and the dynamics of competition among firms. To replace these assumptions, they borrow from biology the concept of natural selection to construct a precise and detailed evolutionary theory of business behavior. They grant that films are motivated by profit and engage in search for ways of improving profits, but they do not consider them to be profit maximizing. Likewise, they emphasize the tendency for the more profitable firms to drive the less profitable ones out of business, but they do not focus their analysis on hypothetical states of industry equilibrium. The results of their new paradigm and analytical framework are impressive. Not only have they been able to develop more coherent and powerful models of competitive firm dynamics under conditions of growth and technological change, but their approach is compatible with findings in psychology and other social sciences. Finally, their work has important implications for welfare economics and for government policy toward industry.

Download or read book Summer Sons written by Lee Mandelo and published by Tordotcom. This book was released on 2021-09-28 with total page 336 pages. Available in PDF, EPUB and Kindle. Book excerpt: Lee Mandelo's debut Summer Sons is a sweltering, queer Southern Gothic that crosses Appalachian street racing with academic intrigue, all haunted by a hungry ghost. Andrew and Eddie did everything together, best friends bonded more deeply than brothers, until Eddie left Andrew behind to start his graduate program at Vanderbilt. Six months later, only days before Andrew was to join him in Nashville, Eddie dies of an apparent suicide. He leaves Andrew a horrible inheritance: a roommate he doesn’t know, friends he never asked for, and a gruesome phantom that hungers for him. As Andrew searches for the truth of Eddie’s death, he uncovers the lies and secrets left behind by the person he trusted most, discovering a family history soaked in blood and death. Whirling between the backstabbing academic world where Eddie spent his days and the circle of hot boys, fast cars, and hard drugs that ruled Eddie’s nights, the walls Andrew has built against the world begin to crumble. And there is something awful lurking, waiting for those walls to fall. At the Publisher's request, this title is being sold without Digital Rights Management Software (DRM) applied.

Download or read book Spaces of Mobility written by Sigurd Bergmann and published by Routledge. This book was released on 2014-12-18 with total page 297 pages. Available in PDF, EPUB and Kindle. Book excerpt: Human mobility is dramatically on the rise; globalization and modern technology have increased transportation and migration. Frequent journeys over large distances cause huge energy consumption, severely impact local and global natural environments and raise spiritual and ethical questions about our place in the world. 'Spaces of Mobility' presents an analysis of the socio-political, environmental, and ethical aspects of mobility. The volume brings together essays that examine why and how modern modes of transport emerge, considering their effect on society. The religious significance of contemporary travel is outlined, namely its impact on pilgrimage, Christology and ethics. The essays examine the interaction between humans and their surroundings and question how increased mobility affects human identity and self-understanding. 'Spaces of Mobility' will be of interest to students and scholars seeking to understand the impact of mobility on modern culture and society, the ethics behind contemporary transport systems and the conditions of immigrants in a world of constant travel.

Download or read book The Paradox of Power written by David C. Gompert and published by Government Printing Office. This book was released on 2020 with total page 236 pages. Available in PDF, EPUB and Kindle. Book excerpt: The second half of the 20th century featured a strategic competition between the United States and the Soviet Union. That competition avoided World War III in part because during the 1950s, scholars like Henry Kissinger, Thomas Schelling, Herman Kahn, and Albert Wohlstetter analyzed the fundamental nature of nuclear deterrence. Decades of arms control negotiations reinforced these early notions of stability and created a mutual understanding that allowed U.S.-Soviet competition to proceed without armed conflict. The first half of the 21st century will be dominated by the relationship between the United States and China. That relationship is likely to contain elements of both cooperation and competition. Territorial disputes such as those over Taiwan and the South China Sea will be an important feature of this competition, but both are traditional disputes, and traditional solutions suggest themselves. A more difficult set of issues relates to U.S.-Chinese competition and cooperation in three domains in which real strategic harm can be inflicted in the current era: nuclear, space, and cyber. Just as a clearer understanding of the fundamental principles of nuclear deterrence maintained adequate stability during the Cold War, a clearer understanding of the characteristics of these three domains can provide the underpinnings of strategic stability between the United States and China in the decades ahead. That is what this book is about.

Download or read book The Origins and Development of Financial Markets and Institutions written by Jeremy Atack and published by Cambridge University Press. This book was released on 2009-03-16 with total page 497 pages. Available in PDF, EPUB and Kindle. Book excerpt: Collectively, mankind has never had it so good despite periodic economic crises of which the current sub-prime crisis is merely the latest example. Much of this success is attributable to the increasing efficiency of the world's financial institutions as finance has proved to be one of the most important causal factors in economic performance. In a series of insightful essays, financial and economic historians examine how financial innovations from the seventeenth century to the present have continually challenged established institutional arrangements, forcing change and adaptation by governments, financial intermediaries, and financial markets. Where these have been successful, wealth creation and growth have followed. When they failed, growth slowed and sometimes economic decline has followed. These essays illustrate the difficulties of co-ordinating financial innovations in order to sustain their benefits for the wider economy, a theme that will be of interest to policy makers as well as economic historians.

Download or read book The Empathy Exams written by Leslie Jamison and published by Graywolf Press. This book was released on 2014-04-01 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: From personal loss to phantom diseases, The Empathy Exams is a bold and brilliant collection, winner of the Graywolf Press Nonfiction Prize A Publishers Weekly Top Ten Essay Collection of Spring 2014 Beginning with her experience as a medical actor who was paid to act out symptoms for medical students to diagnose, Leslie Jamison's visceral and revealing essays ask essential questions about our basic understanding of others: How should we care about each other? How can we feel another's pain, especially when pain can be assumed, distorted, or performed? Is empathy a tool by which to test or even grade each other? By confronting pain—real and imagined, her own and others'—Jamison uncovers a personal and cultural urgency to feel. She draws from her own experiences of illness and bodily injury to engage in an exploration that extends far beyond her life, spanning wide-ranging territory—from poverty tourism to phantom diseases, street violence to reality television, illness to incarceration—in its search for a kind of sight shaped by humility and grace.

Download or read book Handbook of the Economics of Finance written by G. Constantinides and published by Elsevier. This book was released on 2003-11-04 with total page 698 pages. Available in PDF, EPUB and Kindle. Book excerpt: Arbitrage, State Prices and Portfolio Theory / Philip h. Dybvig and Stephen a. Ross / - Intertemporal Asset Pricing Theory / Darrell Duffle / - Tests of Multifactor Pricing Models, Volatility Bounds and Portfolio Performance / Wayne E. Ferson / - Consumption-Based Asset Pricing / John y Campbell / - The Equity Premium in Retrospect / Rainish Mehra and Edward c. Prescott / - Anomalies and Market Efficiency / William Schwert / - Are Financial Assets Priced Locally or Globally? / G. Andrew Karolyi and Rene M. Stuli / - Microstructure and Asset Pricing / David Easley and Maureen O'hara / - A Survey of Behavioral Finance / Nicholas Barberis and Richard Thaler / - Derivatives / Robert E. Whaley / - Fixed-Income Pricing / Qiang Dai and Kenneth J. Singleton.