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About the Author
Prof
Joshua Gans
Joshua Gans is an economics professor at Melbourne Business School in Australia. His research focuses on microeconomics, competition policy and innovation. He is the author of several textbooks and policy books, as well as numerous articles in economics journals. In 2007, Gans received the inaugural young economist award from the Economic Society of Australia. This is an award given every two years to the best economist working in Australia, who is aged under 40.
Articles Published
Showing results 1 to 2 of 2
AussieMac: Competition in the Banking and Non-banking Sectors
The degree of competition in the Australian banking and non-banking lending sectors is critical to both enhancing housing affordability as well as providing an efficient supply of funds to both corporates ... Read moreThe degree of competition in the Australian banking and non-banking lending sectors is critical to both enhancing housing affordability as well as providing an efficient supply of funds to both corporates and small and medium enterprises (SMEs). It is with this firmly in mind that we make this submission to the House of Representatives Standing Committee on Economics and its Inquiry into Competition in the Banking and Non-Banking Sectors.
AussieMac
The Commonwealth Government's move to establish a government-owned enterprise - which we have termed 'AussieMac' - to provide a minimum level of back-stop stability to the residential mortgage-backed securities ... Read moreThe Commonwealth Government's move to establish a government-owned enterprise - which we have termed 'AussieMac' - to provide a minimum level of back-stop stability to the residential mortgage-backed securities (RMBS) market in Australia is welcome. This market has generated significant long-term capital for banks, building societies and non-banks to expand lending for home mortgages and allowed previously tied-up funds to be redeployed to corporates and SMEs. However, recent instability in global financial markets has resulted in the temporary disappearance of the 'primary' RMBS market as a source of funding for lenders. While the closure of this market may ultimately prove to be temporary, its failure has wrought, and continues to inflict, severe havoc on the Australian financial system with no relief as yet in sight. This is in spite of the inherent strength and integrity of Australia's economy and the overwhelming evidence that our mortgage market offers considerable value for institutional investors.
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