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The Basel II framework strictly defines the conditions under which financial institutions are authorized to accept real estate as collateral in order to decrease their credit risk. A widely used concept for its valuation is the hedonic approach. It assumes, that a property can be characterized...
Persistent link: https://www.econbiz.de/10010354740
Monte Carlo (MCMC) algorithms. We investigate the statistical properties of our approach within extensive simulation …
Persistent link: https://www.econbiz.de/10011549047
Carlo (MCMC) algorithms and is smoothly incorporated into the framework of distributional regression. We run a comprehensive …
Persistent link: https://www.econbiz.de/10011578941