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Decisions about location choice provide an opportunity to compare the predictions of optimization models, which require exhaustive search through very large choice sets, against the actual decision processes used by entrepreneurs choosing where to allocate investment capital. This paper presents...
Persistent link: https://www.econbiz.de/10008693572
The relationship between real interest rates, saving, and gre is a cen tral issue in development economics. Using iflaCrOecOnOFflic data for c cross-section of countries, we estimate a model in %i’hlc/I 1/ic intertemporal elasticity of subsutution varies with the level of wealth. The estimated...
Persistent link: https://www.econbiz.de/10005620119
Three essays comprise this dissertation. The first essay uses panel data to show that labor income risk alone cannot explain limited stock market participation. However, transaction costs and household demographics, considered jointly, can determine both the discrete choice of whether to hold...
Persistent link: https://www.econbiz.de/10005835481
We develop a dynamic model for analyzing the programs of contractual savings for housing (CSH). We introduce concepts of stability as well as strong and weak stability of trajectories generated by CSH programs, and obtain the necessary and sufficient conditions that guarantee fulfillment of...
Persistent link: https://www.econbiz.de/10011258200
. First, it demonstrates that the bubble was a supply-side phenomenon attributable to an excess of mispriced mortgage finance …: mortgage-finance spreads declined and volume increased, even as risk increased—a confluence attributable only to an oversupply … of mortgage finance. Second, it explains the mortgage-finance supply glut as resulting from the failure of markets to …
Persistent link: https://www.econbiz.de/10011261024
. Due to both primary and secondary mortgage market problems in the U.S. are accepted as the essential reasons of the … condiders the importance of real estate valuation in the origination of crisis and whether Turkish mortgage market has similar …
Persistent link: https://www.econbiz.de/10009370819
conclude that it likely reflects differential treatment of black neighborhoods by the mortgage industry in ways that are …
Persistent link: https://www.econbiz.de/10009328124
Since February 2010, detailed information on every home mortgage default and foreclosure in New York State must be … Mortgage Disclosure Act (HMDA) enables us to identify the race and ethnicity of borrowers who defaulted on their home mortgages …
Persistent link: https://www.econbiz.de/10009353827
Since February 2010, detailed information on every home mortgage default and foreclosure in New York State must be … principal balances may reduce the foreclosure rate, but might have an adverse effect on the mortgage industry. Given the …
Persistent link: https://www.econbiz.de/10009353841
The paper describes a theoretical approach to determine the downturn LGD for residential mortgages, which is compliant with the regulatory requirement and thus suited to be used for validation, at least as it can give benchmark results. The link between default rates and recovery rates is in...
Persistent link: https://www.econbiz.de/10008674261