| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w2290 |
| 来源ID | Working Paper 2290 |
| Pricing Mortgages: An Interpretation of the Models and Results | |
| Patric H. Hendershott; Robert Van Order | |
| 发表日期 | 1987-06-01 |
| 出版年 | 1987 |
| 语种 | 英语 |
| 摘要 | Mortgages, like all debt securities, can be viewed as risk-free assets plus or minus contingent claims that can be usefully viewed as options. The most important options are: prepayment, which is a call option giving the borrower the right to buy back the mortgage at par, and default, which is a put option giving the borrower the right to sell the house in exchange for the mortgage. This paper reviews and interprets the large and growing body of literature that applies recent results of option pricing models to mortgages. We also provide a critique of the models and suggest directions for future research. |
| 主题 | Macroeconomics |
| URL | https://www.nber.org/papers/w2290 |
| 来源智库 | National Bureau of Economic Research (United States) |
| 引用统计 | |
| 资源类型 | 智库出版物 |
| 条目标识符 | http://119.78.100.153/handle/2XGU8XDN/559545 |
| 推荐引用方式 GB/T 7714 | Patric H. Hendershott,Robert Van Order. Pricing Mortgages: An Interpretation of the Models and Results. 1987. |
| 条目包含的文件 | ||||||
| 文件名称/大小 | 资源类型 | 版本类型 | 开放类型 | 使用许可 | ||
| w2290.pdf（477KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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