메뉴 건너뛰기




Volumn 85, Issue 1, 2013, Pages 269-285

Mitigating financial fragility with Continuous Workout Mortgages

Author keywords

Cap and floor on continuous flow; Continuous Workout Mortgage (CWM); House price index; Prepayment intensity; Repayment

Indexed keywords


EID: 84872004276     PISSN: 01672681     EISSN: None     Source Type: Journal    
DOI: 10.1016/j.jebo.2012.04.010     Document Type: Article
Times cited : (21)

References (34)
  • 1
    • 84859511569 scopus 로고    scopus 로고
    • The adjustable balance mortgage: reducing the value of the put
    • forthcoming, doi:10.1111/j.1540-6229.2011.00320.x
    • Ambrose, B.W., Buttimer, Jr., R.J., 2012. The adjustable balance mortgage: reducing the value of the put. Real Estate Economics 40, 30 pp., forthcoming, doi:10.1111/j.1540-6229.2011.00320.x.
    • (2012) Real Estate Economics 40 , pp. 30
    • Ambrose, B.W.1    Buttimer Jr., R.J.2
  • 4
    • 85015692260 scopus 로고
    • The pricing of options and corporate liabilities
    • Black F., Scholes M. The pricing of options and corporate liabilities. Journal of Political Economy 1973, 81:637-654.
    • (1973) Journal of Political Economy , vol.81 , pp. 637-654
    • Black, F.1    Scholes, M.2
  • 5
    • 0345447667 scopus 로고    scopus 로고
    • Household risk management and optimal mortgage choice
    • Campbell J.Y., Cocco J.F. Household risk management and optimal mortgage choice. Quarterly Journal of Economics 2003, 118:1449-1494.
    • (2003) Quarterly Journal of Economics , vol.118 , pp. 1449-1494
    • Campbell, J.Y.1    Cocco, J.F.2
  • 6
    • 80052143060 scopus 로고    scopus 로고
    • Going with the flow
    • Carr P., Lipton A., Madan D. Going with the flow. Risk 2000, 13:85-89.
    • (2000) Risk , vol.13 , pp. 85-89
    • Carr, P.1    Lipton, A.2    Madan, D.3
  • 9
    • 53249146372 scopus 로고    scopus 로고
    • Innovations in Mortgage Markets and Increased Spending on Housing.
    • Working Paper, Federal Reserve Board of San Francisco.
    • Doms, M., Krainer, J., 2007. Innovations in Mortgage Markets and Increased Spending on Housing. Working Paper, Federal Reserve Board of San Francisco.
    • (2007)
    • Doms, M.1    Krainer, J.2
  • 10
    • 81255158953 scopus 로고    scopus 로고
    • Residential mortgage credit derivatives
    • Duarte J., McManus D.A. Residential mortgage credit derivatives. Real Estate Economics 2011, 39:671-700.
    • (2011) Real Estate Economics , vol.39 , pp. 671-700
    • Duarte, J.1    McManus, D.A.2
  • 14
    • 33645802987 scopus 로고    scopus 로고
    • The American mortgage in historical and international context
    • Green R.K., Wachter S.M. The American mortgage in historical and international context. Journal of Economic Perspectives 2005, 19:93-114.
    • (2005) Journal of Economic Perspectives , vol.19 , pp. 93-114
    • Green, R.K.1    Wachter, S.M.2
  • 15
    • 0042695842 scopus 로고
    • Repeated insurance contracts with adverse selection and limited commitment
    • Hosios A., Peters M. Repeated insurance contracts with adverse selection and limited commitment. The Quarterly Journal of Economics 1989, 104:229-253.
    • (1989) The Quarterly Journal of Economics , vol.104 , pp. 229-253
    • Hosios, A.1    Peters, M.2
  • 16
    • 11244328269 scopus 로고    scopus 로고
    • Home is where the equity is: mortgage refinancing and household consumption
    • Hurst E., Stafford F. Home is where the equity is: mortgage refinancing and household consumption. Journal of Money, Credit, and Banking 2004, 36:985-1014.
    • (2004) Journal of Money, Credit, and Banking , vol.36 , pp. 985-1014
    • Hurst, E.1    Stafford, F.2
  • 17
    • 84871992833 scopus 로고
    • The riskiness of price-level adjusted mortgages
    • Leeds E.M. The riskiness of price-level adjusted mortgages. Review of Business 1993, 15:42-45.
    • (1993) Review of Business , vol.15 , pp. 42-45
    • Leeds, E.M.1
  • 18
    • 0003093394 scopus 로고    scopus 로고
    • Financial intermediation and growth: causality and causes
    • Levine R., Loayza N., Beck T. Financial intermediation and growth: causality and causes. Journal of Monetary Economics 2000, 46:31-77.
    • (2000) Journal of Monetary Economics , vol.46 , pp. 31-77
    • Levine, R.1    Loayza, N.2    Beck, T.3
  • 19
    • 84871974027 scopus 로고
    • Some economic implications of the indexing of financial assets with special reference to mortgages
    • Paper Presented at the Conference on the New Inflation, Milano, Italy, June 24-26.
    • Modigliani, F., 1974. Some economic implications of the indexing of financial assets with special reference to mortgages. Paper Presented at the Conference on the New Inflation, Milano, Italy, June 24-26.
    • (1974)
    • Modigliani, F.1
  • 20
    • 84871965200 scopus 로고    scopus 로고
    • Bank Incentives and Optimal CDOs. Working Paper 253, Banque de France.
    • Pagès, H., 2009. Bank Incentives and Optimal CDOs. Working Paper 253, Banque de France.
    • (2009)
    • Pagès, H.1
  • 21
    • 84871945249 scopus 로고    scopus 로고
    • Banking Crisis: An Equal Opportunity Menace. Working Paper, Harvard University.
    • Reinhart, C.M., Rogoff, K.S., 2008. Banking Crisis: An Equal Opportunity Menace. Working Paper, Harvard University.
    • (2008)
    • Reinhart, C.M.1    Rogoff, K.S.2
  • 27
    • 84871951594 scopus 로고    scopus 로고
    • Derivatives markets for home prices
    • Lincoln Institute of Land Policy, Cambridge, Massachusetts, chapter 2, Papers from a conference sponsored by the Lincoln Institute of Land Policy, held in December 2007, E.L. Glaeser, J.M. Quigley (Eds.)
    • Shiller R.J. Derivatives markets for home prices. Housing Markets and the Economy: Risk, Regulation, and Policy: Essays in Honor of Karl E. Case. 2009, Lincoln Institute of Land Policy, Cambridge, Massachusetts, chapter 2, pp. 17-33. Papers from a conference sponsored by the Lincoln Institute of Land Policy, held in December 2007. E.L. Glaeser, J.M. Quigley (Eds.).
    • (2009) Housing Markets and the Economy: Risk, Regulation, and Policy: Essays in Honor of Karl E. Case. , pp. 17-33
    • Shiller, R.J.1
  • 31
    • 49249143360 scopus 로고
    • On financial contracting: an analysis of bond covenants
    • Smith C.W., Warner J.B. On financial contracting: an analysis of bond covenants. Journal of Financial Economics 1979, 7:117-161.
    • (1979) Journal of Financial Economics , vol.7 , pp. 117-161
    • Smith, C.W.1    Warner, J.B.2
  • 32
    • 0032393104 scopus 로고    scopus 로고
    • Mortgage choice: What's the point?
    • Stanton R., Wallace N. Mortgage choice: What's the point?. Real Estate Economics 1998, 26:173-205.
    • (1998) Real Estate Economics , vol.26 , pp. 173-205
    • Stanton, R.1    Wallace, N.2
  • 33
    • 84980291515 scopus 로고
    • Money, credit, and business fluctuations
    • Stiglitz J.E. Money, credit, and business fluctuations. The Economic Record 1988, 64:307-322.
    • (1988) The Economic Record , vol.64 , pp. 307-322
    • Stiglitz, J.E.1
  • 34
    • 64749109242 scopus 로고    scopus 로고
    • Comments on 'policies to deal with the implosion' and 'homes and cars'
    • Article 7. Available at:
    • Wilcox, J.A., 2009. Comments on 'policies to deal with the implosion' and 'homes and cars'. The B.E. Journal of Economic Analysis & Policy 9, Article 7. Available at: http://www.bepress.com/bejeap/vol9/iss3/art7.
    • (2009) The B.E. Journal of Economic Analysis & Policy 9
    • Wilcox, J.A.1


* 이 정보는 Elsevier사의 SCOPUS DB에서 KISTI가 분석하여 추출한 것입니다.