Wang, F.; Zhang, Ting - In: The Journal of Real Estate Finance and Economics 49 (2014) 2, pp. 256-276
We investigate the recent financial crisis with an emphasis on the interlock among housing, mortgage, and credit …>, <CitationRef CitationID="CR6">2010</CitationRef>), we develop a model in which both prices of the mortgage and its collateral are …-cyclical leveraging practice by financial intermediaries can magnify their losses in mortgage-related assets and consequently cause …