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securitization cascades” and a vast expansion of national and international lending. The consequence was an enormous loss of assets …
Persistent link: https://www.econbiz.de/10014586322
or other activities. Findings The mortgage securitization system (MSS) securitizes tangible assets and provides necessary … deals with only securitization of tangible assets, research can also be extended to securitization of intangible assets …
Persistent link: https://www.econbiz.de/10014781941
Summary In a framework of a monetary asset pricing model with production the effects of monetary and fiscal policy shocks are investigated. The model is kept simple enough to generate explicit formulae for the equilibrium price functions. With money yielding liquidity services in the exchange...
Persistent link: https://www.econbiz.de/10014608656
. Es erweist sich, dass die Divergenz in den Wachstumsraten der USA und der EU seit 1997 fast zur Gänze auf …
Persistent link: https://www.econbiz.de/10014609054
Summary Initiated by the seminal work of Diamond/Dybvig (1983) and Diamond (1984), advances in the theory of financial intermediation have sharpened our understanding of the theoretical foundations of banks as special financial institutions. What makes them “unique” is the combination of...
Persistent link: https://www.econbiz.de/10014608857
mortgage loan, where the purchase price of the property, or balance of the price if a down payment is made (the bouquet), is … mirror those from pools of life insurance policies. We propose in this paper a model that values the possible securitization … of viagers and that values life extension risk. The securitization of viagers gives insurance companies an opportunity to …
Persistent link: https://www.econbiz.de/10014585437
financial crisis. Emphasis is placed on differences among the mortgage, consumer credit and business loan securitization markets … asset purchase programs of the Federal Reserve in mortgage markets. Securitization tends to make the adjustment process more … securitization on the transmission of policy rate changes to lending rates and how rate transmission has changed since the recent …
Persistent link: https://www.econbiz.de/10014866935
Purpose The purpose of this paper is to use an equilibrium model to identify the public and private informational requirements for equilibrium pricing and shows that unless these informational requirements are met, skin-in-the-game policies will not be fully effective against moral hazard for...
Persistent link: https://www.econbiz.de/10014785710
Purpose – One of the main risks to investors in securitized reverse mortgages is that the value of the reverse mortgage …‐surfaces, multivariate calculus was used. Findings – Knowing that the value of a reverse mortgage increases above that of the property value … and inflation rate, which can be used when structuring pools of reverse mortgage‐backed securities, to credit …
Persistent link: https://www.econbiz.de/10014901889
crisis. Until recently research has focused on the post-1970s mortgage securitization market. In this paper, I trace the … one of the biggest financial innovations of the last century, securitization is now viewed as a contributory factor to the … earlier origins of securitization, from the 12th century Genoese compera through to early 20th century efforts. The historical …
Persistent link: https://www.econbiz.de/10014901922