منابع مشابه
What Have We Learned About Mortgage Default?
*The views expressed here are those of the author and do not necessarily represent the views of the Federal Reserve Bank of Philadelphia or the Federal Reserve System. The current crisis has seen an increase in mortgage default rates unprecedented since the Great Depression. By the end of 2009, one out of 11 mortgages was seriously delinquent or in foreclosure.1 In states that have been y the e...
متن کاملResidential Mortgage Default
although default rates on residential mortgages have been relatively low in recent years, policymakers and economists should still be concerned about mortgage default for several reasons. First, while the foreclosure rate in the u.s. has averaged only 1 percent over the past 20 years, there have been dramatic swings in regional default rates over this period. For example, in the early 1990s for...
متن کاملA Model of Mortgage Default
This paper solves a dynamic model of householdsmortgage decisions incorporating labor income, house price, ination, and interest rate risk. It uses a zero-pro t condition for mortgage lenders to solve for equilibrium mortgage rates given borrower characteristics and optimal decisions. The model quanti es the e¤ects of adjustable vs. xed mortgage rates, loan-to-value ratios, and mortgage a¤or...
متن کاملNumerical ability predicts mortgage default.
Unprecedented levels of US subprime mortgage defaults precipitated a severe global financial crisis in late 2008, plunging much of the industrialized world into a deep recession. However, the fundamental reasons for why US mortgages defaulted at such spectacular rates remain largely unknown. This paper presents empirical evidence showing that the ability to perform basic mathematical calculatio...
متن کاملMortgage Default: Classification Trees Analysis
We introduce the powerful, flexible and efficient nonparametric Classification and Regression Trees (CART) algorithm to the analysis of mortgage default data while conducting the first academic study of mortgage default in Israel. CARTs strengths in dealing with large data sets, high dimensionality, mixed data types, missing data, different relationships between variables in different parts of...
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ژورنال
عنوان ژورنال: American Economic Review
سال: 2010
ISSN: 0002-8282
DOI: 10.1257/aer.100.2.490