Limits of Arbitrage: Theory and Evidence from the Mortgage-Backed Securities Market
收藏NBER2005-12-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w11851
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资源简介：
"Limits of Arbitrage" theories hypothesize that the marginal investor in a particular asset market is a specialized arbitrageur rather than a diversified representative investor. We examine the mortgage-backed securities (MBS) market in this light. We show that the risk of homeowner prepayment,
提供机构：
美国国家经济研究局
创建时间：
2005-12-01
