Continuous Workout Mortgages: Efficient pricing and systemic implications
نویسندگان
چکیده
منابع مشابه
Continuous Workout Mortgages: Efficient Pricing and Systemic Implications
This paper studies the Continuous Workout Mortgage (CWM), a two in one product: a fixed rate home loan coupled with negative equity insurance, to advocate its viability in mitigating financial fragility. In order to tackle the many issues that CWMs embrace, we perform a range of tasks. We optimally price CWMs and take a systemic market-based approach, stipulating that mortgage values and paymen...
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ژورنال
عنوان ژورنال: Journal of Economic Behavior & Organization
سال: 2019
ISSN: 0167-2681
DOI: 10.1016/j.jebo.2017.12.006