New Mortgage Designs for an Inflationary Environment New Mortgage Designs for an Inflationary Environment

Conference Series 14 Conference Series 14

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January 1975
Cambridge, Massachusetts

The Federal Reserve Bank of Boston is pleased to publish these papers on New Mortgage Designs for Stable Housing in an Inflationary Environment presented at a conference at MIT in January 1975. Continuing developments in both the monetary and housing fronts bear out the importance of finding ways to alleviate the impact of inflation on housing. The conference was the culmination of a study carried out at the Sloan School of Management at MIT with the support of the U.S. Department of Housing and Urban Development and the Federal Home Loan Bank Board.

Contents

Entire Proceedings (16.1MB)

Foreword 
  Frank E. Morris, John C. Weicher, and Donald M. Kaplan

Solving the Long-Range Problems of Housing and Mortgage Finance 
 Frank E. Morris

Inflation and the Housing Market: Problems and Potential Solutions
  Donald R. Lessard and Franco Modigliani

Alternative Mortgage Designs
  Richard A. Cohn and Stanley Fischer, with discussions by Henry B. Schechter, Kenneth J. Thygerson, and Donald P. Tucker

Relationships Between the Mortgage Instruments, the Demand for Housing and Mortgage Credit: A Review of Empirical Studies
  James Kearl, Kenneth Rosen, and Craig Swan. With discussions by Frank De Leeuw and George M. Von Furstenberg

Price-Level-Adjusted Mortgages in Brazil
  Richard Anderson and Donald R. Lessard

Roll-Over Mortgages in Canada
  Donald R. Lessard

The Financing of Housing in Finland With Special Reference to the Application of the Index Clause
  Pennti J.K. Kouri

Price-Level-Adjusted Mortgages in Israel
  Alex Cukierman

Mortgage Innovation To Facilitate Investment in Housing: The Case in Sweden
  David L. Cohen and Donald R. Lessard

Experience with Variable-Rate Mortgages: The Case of the United Kingdom
  David L. Cohen and Donald R. Lessard. With discussions by Robert M. Fisher and Hirsh Tadman

Macroeconomic Simulations of Alternative Mortgage Instruments
  Dwight M. Jaffee and James R. Kearl. With discussions by Henry J. Cassidy, James S. Duesenberry, and Patric H. Hendershott

Tax and Regulatory Problems Posed by Alternative Nonstandard Mortgages
  Daniel M. Holland, with discussions by Jeremiah Buckley and Stanley Surrey

Overview
  Rudy Penner