A Theory of Housing Collateral, Consumption Insurance and Risk Premia
收藏NBER2004-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w10955
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资源简介：
In a model with housing collateral, a decrease in house prices reduces the collateral value of housing, increases household exposure to idiosyncratic risk, and increases the conditional market price of risk. This collateral mechanism can quantitatively replicate the conditional and the cross
提供机构：
美国国家经济研究局
创建时间：
2004-12-01
