Housing Collateral, Consumption Insurance and Risk Premia: An Empirical Perpective
收藏NBER2003-09-01 更新2025-01-04 收录
下载链接：
https://www.nber.org/papers/w9959
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资源简介：
In a model with housing collateral, the ratio of housing wealth to human wealth shifts the conditional distribution of asset prices and consumption growth. A decrease in house prices reduces the collateral value of housing, increases household exposure to idiosyncratic risk, and increases the
提供机构：
美国国家经济研究局
创建时间：
2003-09-01
