Author: Philip Lane

The revised version of the paper I presented at SSISI is here.

Jointly with Agustin Benetrix, I wrote a paper on this topic for a SNB conference in November:  it is here.

 IIIS Seminar Room,  Level 6, TCD Arts Block

9am-10am,  Friday January 23

Resolving Residential Mortgage Distress: Time to Modify? 

Jochen R. Andritzky (IMF)

Summary: In housing crises, high mortgage debt can feed a vicious circle of falling housing prices and declining consumption and incomes, leading to higher mortgage defaults and deeper recessions. In such situations, resolution policies may need to be adapted to help contain negative feedback loops while minimizing overall loan losses and moral hazard. Drawing on recent experiences from Iceland, Ireland, Spain, and the United States, this paper discusses how economic trade-offs affecting mortgage resolution differ in crises. Depending on country circumstances, the economic benefits of temporary forbearance and loan modifications for struggling households could outweigh their costs. 

here.

My SSISI talk
“The Funding of the Irish Domestic Banking System During the Boom”
–   tomorrow night at 6pm at RIA. More details here.

Eichengreen on his new book “Hall of Mirrors”  – Tuesday the 20th at 9am (Ed Burke Theatre, TCD).  More details here.