Mortgage Default Risk and Real Estate Prices: The Use of Index-Based Futures and Options in Real Estate
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Evidence is shown, using US foreclosure data by state 1975-93, that periods of high default rates on home mortgages strongly tend to follow real estate price declines or interruptions in real estate price increase. The relation between price decline and foreclosure rates is modelled using a
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美国国家经济研究局创建时间:
1995-04-01



