| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w16242 |
| 来源ID | Working Paper 16242 |
| Covered Farm Mortgage Bonds in the Late Nineteenth Century U.S. | |
| Kenneth A. Snowden | |
| 发表日期 | 2010-07-27 |
| 出版年 | 2010 |
| 语种 | 英语 |
| 摘要 | Covered mortgage bonds have been used successfully in Europe for two centuries, but failed in the U.S. when introduced as farm mortgage debentures in the 1880s. Using firm-level data and a sample of loans made by one Kansas mortgage company, I find that debenture programs grew out of established loan brokerage operations and were used to fund mortgages that were difficult to broker because of size, term or risk characteristics. Debentures broadened access to the interregional mortgage market and facilitated an expansion of western farm mortgage debt before the innovation failed in the mortgage crisis of the 1890s. |
| 主题 | Financial Economics ; Financial Institutions ; History ; Macroeconomic History ; Financial History ; Other History ; Regional and Urban Economics |
| URL | https://www.nber.org/papers/w16242 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/573917 |
| 推荐引用方式 GB/T 7714 | Kenneth A. Snowden. Covered Farm Mortgage Bonds in the Late Nineteenth Century U.S.. 2010. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w16242.pdf（347KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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