In this paper we discuss the pricing of commercial real estate index linked swaps (CREILS). This particular pricing problem has been studied by Buttimer et al. (1997) in a previous paper. We show that their results are only approximately correct and that the true theoretical price of the swap is...

Various stakeholders are increasingly encouraging companies from the real economy to adopt measures facilitating their transition towards carbon neutrality. In this context, companies are expected to implement forward-looking strategies and climate-related reporting practices using scenario...

Recent research has documented the prevalence and consequences of evictions in the United States, but our understanding of the drivers of eviction and the scope for policy to reduce evictions remains limited. We use novel lease-level ledger data from high-eviction rental markets to characterize...

This paper empirically analyses the effect of unemployment on mortgage loan late payments using German household panel data. Regressions with individual fixed effects suggest that for each person who becomes unemployed, the probability of missing a mortgage payment increases by two percentage...

We explore the effects of mandatory third-party review of mortgage contracts on the terms, availability, and performance of mortgage credit. Our study is based on a legislative experiment in which the State of Illinois required “high-risk” mortgage applicants acquiring or refinancing...

Restrictions on new constructions and modernisations occur in almost all countries and numerous regulations apply in Germany. This article outlines regulations regarding the protection of historical buildings, restoration law and preservation statutes and describes compensatory subsidies...

Im Rahmen ihrer Koalitionsverhandlung hat sich die neue Bundesregierung auf eine Mietpreisbremse verständigt, um der vermuteten Preisexplosion auf dem Wohnungsmarkt entgegenzuwirken. Entgegen dieser Einschätzung kommen wir zu dem Ergebnis, dass die Nettokaltmieten in Deutschland in den...

Using new household-level data, we quantitatively assess the roles that job loss, negative equity, and wealth (including unsecured debt, liquid assets, and illiquid assets) play in default decisions. In sharp contrast to prior studies that proxy for individual unemployment status using regional...

This paper analyzes whether predominantly non-listed corporations in the residential property industry systematically adjust their capital structure to changing financing requirements. Since previous research almost exclusively focused on listed companies, little is known about the...

The author constructs a theoretical model to examine the effects of an inherent conflict of interest between a seller of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker’s commission rates that would maximize the seller’s expected gain....