Campbell, John Y. (contributor); Cocco, João F. (contributor) - 2003 - [Elektronische Ressource]
therefore
a superior vehicle for household risk management. The welfare gain from mortgage
indexation can be very large.
1 … from indexation of FRMs. These results parallel the findings of Campbell and
Shiller (1996) and Campbell and Viceira (2001 … spread.
In section 5, on alternative parameterizations we assess the benefits of mortgage
17
indexation when we calibrate …