منابع مشابه
Fixed and Variable-Rate Mortgages, Business Cycles and Monetary Policy
The aim of this paper is twofold. First, I study how the proportion of xed and variable-rate mortgages in an economy can a¤ect the way shocks are propagated. Second, I analyze optimal implementable simple monetary policy rules and the welfare implications of this proportion. I develop and solve a New Keynesian dynamic stochastic general equilibrium model that features a housing market and a gr...
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In this paper, we propose a new full-fuzzy video ratecontrol algorithm (RCA) for variable bit rate (VBR) videoapplications. The proposed RCA provides high qualitycompressed video with a low degree computational complexity.By controlling the quantization parameter (QP) on a picturebasis, it produces VBR video bit streams. The proposed RCAhas been implemented on the JM H.264/AVC video codec andth...
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Variable-rate mortgages have been advocated as one means to alleviate the effects of high and volatile rates of inflation and interest on the housing market and, in particular, on institutions which specialize in housing finance. The experience of the United Kingdom is especially interesting in this regard since it has employed variable-rate mortgages on a large-scale basis within an institutio...
متن کاملAdjustable Rate Mortgages: Valuation
A simulation method is employed to value Adustable Rate Mortgages, (ARMS). It is used to price two typical instruments: an ARM linked to a Treasury interest rate and an ARM linked to a "Cost of Funds" Index. Contractual provisions such as the margin over the index, caps and floors on the ARM's rate or on the monthly prepayment, reset frequency, and the "teaser" rate are examined for their influ...
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This study constructs a valuation model from which an option-adjusted spread approach is employed to value individual mortgage servicing contracts for both adjustable rate and fixed rate mortgages. The valuation model is comprised of an exogenous OTS prepayment model, a stochastic interest rate process, and other servicing fees and costs, all of which jointly determine the servicing contract’s ...
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ژورنال
عنوان ژورنال: Quarterly Review
سال: 1979
ISSN: 0271-5287
DOI: 10.21034/qr.311