To the Spanish Prime Minister in August 2011 (reply also published):
New IMF WP by Jochen Andritzky here.
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.
IMF speech by Ratna Sahay here.
Free online:
| Maternal Country of Birth Differences in Breastfeeding at Hospital Discharge in Ireland | |
| Aoife Brick, Anne Nolan | 455-484 |
| Middle Class Squeeze? Social Class and Perceived Financial Hardship in Ireland, 2002-2012 | |
| Peter Mühlau | 485–509 |
| Testing the Permanent Income Hypothesis for Irish Households, 1994 to 2005 | |
| Petra Gerlach-Kristen | 511–535 |
| Averting Crisis? Commentary from the International Institutions on the Irish Property Sector in the Years Before the Crash | |
| Ciarán Michael Casey | 537–557 |
| How Have Contracts for Difference Affected Irish Equity Market Volatility? | |
| Shaen Corbet, Cian Twomey | 559–577 |
| Telework Isn’t Working: A Policy Review | |
| Michael Hynes | 579–602 |