Ambrose, Brent W; Buttimer, Richard; Thibodeau, Thomas - In: The Journal of Real Estate Finance and Economics 23 (2001) 3, pp. 309-35
This article uses house-price transaction data to estimate volatility in house prices. The volatility parameter is an input into a mortgage-pricing model that is used to simulate the contract interest rate that balances the mortgage contract. By segmenting the house-price transaction into high-...