01641cas a2200241 a 4500 AALejournalIMF008877 230101c9999 xx r poo 0 0eng d 5.00 USD 9781451839647 1934-7685 BD-DhAAL BD-DhAAL International Monetary Fund. United States : Selected Issues. Washington, D.C. : International Monetary Fund, 2005. 1 online resource (126 pages) IMF Staff Country Reports <strong>Off-Campus Access:</strong> No User ID or Password Required <strong>On-Campus Access:</strong> No User ID or Password Required Electronic access restricted to authorized BRAC University faculty, staff and students This Selected Issues paper on the United States examines the effect of the structure of the mortgage market on real housing activity and housing prices. The market-based financial structure has reduced the volatility of mortgage lending. Changes in the structure of the mortgage market have coincided with lower volatility of real housing activity. Regional income growth and unemployment rates have statistically significant and correct signed effects on housing prices. Tests of the relative importance of mortgage market structure and macroeconomic variables suggest an important effect from the financial structure. Mode of access: Internet IMF Staff Country Reports; Country Report ; No. 2005/258 Full text available on IMF http://elibrary.imf.org/view/journals/002/2005/258/002.2005.issue-258-en.xml IMF e-Library