Lai, Rose Neng; Order, Robert - In: Real Estate Economics 42 (2014) 2, pp. 343-362
type="main" <p>This article models the riskiness of structured securitization deals. The deals are put together by “banks,” which can exercise strategic options over the risk put into the deals. The banks face a trade-off between the benefits of risk-taking now and future franchise benefits if...</p>