Subprime lending and the housing bubble: Tail wags dog?
نویسندگان
چکیده
منابع مشابه
The Tail that Wags the Dog
Tails are of paramount importance in shaping the risk profile of portfolios with credit risk sensitive securities. In this context risk management tools require simulations that accurately capture the tails, and optimization models that limit tail effects. Ignoring the tails in the simulation or using inadequate optimization metrics can have significant effects and destroy portfolio efficiency....
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ژورنال
عنوان ژورنال: Journal of Housing Economics
سال: 2008
ISSN: 1051-1377
DOI: 10.1016/j.jhe.2008.09.001