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[23]Clea Benson,“Obama Housing Fix Faltered on CarrotsNotSticks Policy,” Bloomberg News,June 11,2012.
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[24]Kristin Roberts and Stacy Kaper,“Out of Their Depth,” National Journal,March 22,2012.
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第10章
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[1]以下链接可以看到CNBC的视频：http://video.cnbc.com/gallery/?video=1039849853。
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[2]Dina ElBoghdady,“HUD Chief Calls Aid on Mortgages a Failure,” Washington Post,December 17,2008.
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[3]SIGTARP,“Quarterly Report to Congress,” April 24,2013,http://www.sigtarp.gov/Quarterlypercent20Reports/April_24_2013_Report_to_Congress.pdf.
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[4]Office of the Special Inspector General for the Troubled Asset Relief Program,“Quarterly Report to Congress,” April 24,2013.Available at http://www.sigtarp.gov/Quarterly%20Reports/April_24_2013_Report_to_Congress.pdf.
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[5]Zachary Goldfarb,“Why Housing Is Still Hindering the Recovery,” Washington Post,November 24,2012.
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[6]Kristin Roberts and Stacy Kaper,“Out of Their Depth,” National Journal,March 22,2012.
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[7]特别是，可以参见 Anna Gelpern and Adam Levitin,“Rewriting Frankenstein Contracts
:Workout Prohibitions in Residential MortgageBacked Securities,” Southern California Law Review 82 （2009）
:1075-152。
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[8]同上。
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[9]同上。
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[10]John Geanakoplos,“Solving the Present Crisis and Managing the Leverage Cycle,” FRBNY Economic Policy Review 16,no.1 （August 2010）.
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[11]Christopher Mayer,Edward Morrison,and Tomasz Piskorski,“A New Proposal for Loan Modifications,” Yale Journal on Regulation 26,no.2 （2009）.
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[12]Sumit Agarwal,Gene Amromin,Itzhak BenDavid,Souphala Chomsisengphet,Tomasz Piskorski,and Amit Seru,“Policy Intervention in Debt Renegotiation
:Evidence from the Home Affordable Modification Program” （working paper,University of Chicago Booth School of Business,2012）.
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[13]Tomasz Piskorski,Amit Seru,and Vikrant Vig,“Securitization and Distressed Loan Renegotiation
:Evidence from the Subprime Mortgage Crisis,” Journal of Financial Economics 97 （2010）
:369-97.
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[14]Sumit Agarwal,Gene Amromin,Itzhak BenDavid,Souphala Chomsisengphet,and Douglas Evanoff ,“MarketBased Loss Mitigation Practices for Troubled Mortgages Following the Financial Crisis,” （working paper,SSRN,October 2010）.
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[15]研究由Christopher Mayer、Edward Morrison、Tomasz Piskorski和Arpit Gupta完成，“Mortgage Modification and Strategic Behavior
:Evidence from a Legal Settlement with Countrywide” （working paper no.17065,NBER,May 2011），本文支持了对这些策略性违约的担忧。
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[16]See Jesse Eisenger,“Fannie and Freddie
:Slashing Mortgages Is Good Business,”ProPublica,March 23,2012,http://www.propublica.org/article/fannieandfreddieslashingmortgagesisgoodbusiness.
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[17]See Ben Hallman,“Ed DeMarco,Top Housing Official,Defied White House;Geithner Fires Back,” Huffington Post,July 31,2012,http://www.huffi ngtonpost.com/2012/07/31/eddemarcoprincipalreduction_n_1724880.html.
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[18]Annie Lowrey,“White House Urged to Fire a Housing Regulator,” New York Times,March 17,2013.
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[19]参见与《下一轮新政》的作者Mike Konczal的访谈：http://www.nextnewdeal.net/rortybomb/postdebateinterviewglennhubbardhousingpolicy。
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[20]人们通常认为当出现名义黏性时，由于总需求的外部性，金融市场的结果可能是无效率的。参见Emmanuel Farhi and Ivan Werning,“On the Inefficiency of Financial Market Equilibria in Macroeconomic Models with Nominal Rigidities” （working paper,Harvard University,2013）。正如该文所示，我们所建议的转移支付就是有意义的。
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[21]例如，一种常见的反驳观点认为：有7500亿美元资不抵债的住房抵押贷款债务。即使给了负债家庭7500亿美元，他们也可能每1美元只花0.1美元，总支出仅有750亿美元，这相对于GDP总量来说很小。然而，这种测算完全忽略了止赎对房价的连锁影响，以及对就业的连锁影响，就像我们在第5章所解释的，这些影响是非常大的。
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[22]Martin Feldstein,“How to Stop the Drop in Home Values,” New York Times,October 12,2011.
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