| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w4830 |
| 来源ID | Working Paper 4830 |
| Home Equity Insurance | |
| Robert J. Shiller; Allan N. Weiss | |
| 发表日期 | 1994-08-01 |
| 出版年 | 1994 |
| 语种 | 英语 |
| 摘要 | Home equity insurance policies, policies insuring homeowners against declines in the price of their homes, would bear some resemblance both to ordinary insurance and to financial hedging vehicles. A menu of choices for the design of such policies is presented here, and conceptual issues are discussed. Choices include pass-through futures and options, in which the insurance company in effect serves as a retailer to homeowners of short positions in real estate futures markets or of put options on real estate. Another choice is a life-event-triggered insurance policy, in which the homeowner pays regular fixed insurance premia and is entitled to a claim if both there is a sufficient decline in the real estate price index and a specified life event (such as a move beyond a certain geographical distance) occurs. Pricing of the premia to cover loss experience is derived, and tables of break-even policy premia are shown, based on estimated models of Los Angeles housing prices 1971- 91. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w4830 |
| 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/562237 |
| 推荐引用方式 GB/T 7714 | Robert J. Shiller,Allan N. Weiss. Home Equity Insurance. 1994. |
| 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 | ||
| w4830.pdf（496KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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