Hedging and pricing rent risk with search frictions
The desire of risk-averse households to hedge rent risk is thought to increase home ownership and prices. While evidence for the ownership implication is compelling, support for the price effect is mixed. We show that an important reason is search frictions. Rent risk reduces outside options, leadin...
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| المؤلفون الرئيسيون: | , , , |
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| التنسيق: | text |
| اللغة: | English |
| منشور في: |
Institutional Knowledge at Singapore Management University
2017
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| الموضوعات: | |
| الوصول للمادة أونلاين: | https://ink.library.smu.edu.sg/lkcsb_research/5412 https://ink.library.smu.edu.sg/context/lkcsb_research/article/6411/viewcontent/DaysOnMarkets.pdf |
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| المؤسسة: | Singapore Management University |
| اللغة: | English |