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Economics of the Mortgage Market

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The analysis of the mortgage market is a specialised field but examines a financial market with extremely wide-ranging implication... Weiterlesen
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Beschreibung

The analysis of the mortgage market is a specialised field but examines a financial market with extremely wide-ranging implications; it affects the stability of the whole economy.

The key thing about this analysis is the increasing importance of the secondary mortgage market – which in the US is now several times larger than the market for government debt. The UK secondary mortgage market is also growing and the book will provide a timely resource to those active and interested in this important financial market.


The 1990s saw an enormous growth of mortgage market analysis as an academic subject and there is a vast literature scattered among the key real estate journals. There is now a great need to not only bring this very complex subject area together, but also to abstract the main issues and to render them intelligible. The book will provide an organised research resource and also inform and motivate further research into the microeconomics of mortgage markets.


David Leece is Senior Lecturer in Business Economics & Finance in the Department of Management, University of Keele. His research interests are in the economics of housing and mortgage markets, as well as in business economics. He has published widely on mortgage market economics.

Autorentext

David Leece is Senior Lecturer in Business Economics & Finance in the Department of Management, University of Keele. His research interests are in the economics of housing and mortgage markets, as well as in business economics. He has published widely on mortgage market economics.



Klappentext
The analysis of the mortgage markets is a specialized subject and one with extremely wide-ranging implications; as well as dictating the housing market, it affects the stability of the whole economy.

The 1990s saw a huge growth in mortgage market analysis as an academic subject and a vast literature exists, scattered among the key real estate journals. There is now a great need to not only bring this complex subject area together but also to abstract the main issues and render them intelligible.

Economics of the Mortgage Market: perspectives on household decision making provides an organised research resource for financial analysts in real estate, as well as researchers in real estate finance, real estate economics, housing economics and urban economics.

The author informs and motivates further research into the microeconomics of mortgage markets by:


  • Collating a disparate literature into a single source

  • Analyzing a complex set of issues in an accessible way for the non-mathematical reader

  • Linking household behaviour to key issues in mortgage market economics and mortgage valuation

  • Presenting his own original research and thinking in this area.


Inhalt
Preface.

Acknowledgements.

1 An Introduction to Mortgage Market Economics.

2 The Demand for Mortgage Finance: Theory.

3 The Demand for Mortgage Finance: Empirical Evidence.

4 The 'Tilt', Mortgage Designs and the Amortisation of Debt.

5 Rationing, Mortgage Market Adjustment and Separating Equilibrium.

6 Credit Rationing, Mortgage Market Adjustment and Separating Equilibrium: Empirical Evidence.

7 The Households Choice of Mortgage Design: Theory.

8 The Households Choice of Mortgage design: Empirical Evidence.

9 The Risky Mortgage Contract and Embedded Options: Mortgage Valuation and Household Behaviour.

10 Prepayment and Default Behavior: Empirical Evidence.

11 Conclusion: The 'Field' of Mortgage Market Economics.

Bibliography.

Index.

Produktinformationen

Titel: Economics of the Mortgage Market
Untertitel: Perspectives on Household Decision Making
Autor:
EAN: 9780470693230
ISBN: 978-0-470-69323-0
Digitaler Kopierschutz: Adobe-DRM
Format: E-Book (pdf)
Herausgeber: Wiley-Blackwell
Genre: Betriebswirtschaft
Anzahl Seiten: 272
Veröffentlichung: 15.04.2008
Jahr: 2008
Untertitel: Englisch
Dateigrösse: 1.0 MB