Pricing home mortgages and bank collateral: A rational expectations approach

The efficiency of the housing finance system is of interest to homeowners, financial intermediaries and policy makers. We study the design of optimal mortgage contracts for risk-averse economic agents with access to symmetric information on the payoffs of a risky home. Our non-linear framework helps...

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Veröffentlicht in:	Journal of economic dynamics & control 2007-04, Vol.31 (4), p.1217-1244
Hauptverfasser:	Ebrahim, M. Shahid, Mathur, Ike
Format:	Artikel
Sprache:	eng
Schlagworte:	Collateral Design optimization Efficient mortgage design and hedging inflation Hedging Housing prices Inflation Mortgages Rational expectations Risk aversion Simulation Studies
Online-Zugang:	Volltext
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