| 来源类型 | Working Paper |
| 规范类型 | 报告 |
| DOI | 10.3386/w6552 |
| 来源ID | Working Paper 6552 |
| Moral Hazard in Home Equity Conversion | |
| Robert J. Shiller; Allan N. Weiss | |
| 发表日期 | 1998-05-01 |
| 出版年 | 1998 |
| 语种 | 英语 |
| 摘要 | Home equity conversion as presently constituted or proposed usually does not deal well with the potential problem of moral hazard. Once home-owners know that the risk of poor market performance of their homes is borne by investors, they have an incentive to neglect to take steps to maintain the homes' values. They may thus create serious future losses for the investors. A calibrated model for assessing this moral hazard risk is presented that is suitable for a number of home equity conversion forms: 1) reverse mortgages, 2) home equity insurance, 3) shared appreciation mortgages, 4) housing partnerships, 5) shared equity mortgages and 6) sale of remainder interest. Modifications of these forms involving real estate price indices are proposed that might deal better with the problem of moral hazard. |
| 主题 | Financial Economics ; Financial Institutions |
| URL | https://www.nber.org/papers/w6552 |
| 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/564066 |
| 推荐引用方式 GB/T 7714 | Robert J. Shiller,Allan N. Weiss. Moral Hazard in Home Equity Conversion. 1998. |
| 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 | ||
| w6552.pdf（963KB） | 智库出版物 | 限制开放 | CC BY-NC-SA | 浏览 | ||
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