Search Results

Showing results 1 to 3 of approximately 3.

(refine search)
SORT BY: PREVIOUS / NEXT
Author:Fang, Hanming 

Working Paper
The dynamics of subprime adjustable-rate mortgage default: a structural estimation

We present a dynamic structural model of subprime adjustable-rate mortgage (ARM) borrowers making payment decisions, taking into account possible consequences of different degrees of delinquency from their lenders. We empirically implement the model using unique data sets that contain information on borrowers' mortgage payment history, their broad balance sheets, and lender responses. Our investigation of the factors that drive borrowers' decisions reveals that subprime ARMs are not all alike. For loans originated in 2004 and 2005, the interest rate resets associated with ARMs as well as the ...
Working Papers , Paper 16-2

Working Paper
The Dynamics of Adjustable-Rate Subprime Mortgage Default: A Structural Estimation

We present a dynamic structural model of subprime adjustable-rate mortgage (ARM) borrowers making payment decisions taking into account possible consequences of different degrees of delinquency from their lenders. We empirically implement the model using unique data sets that contain information on borrowers' mortgage payment history, their broad balance sheets, and lender responses. Our investigation of the factors that drive borrowers' decisions reveals that subprime ARMs are not all alike. For loans originated in 2004 and 2005, the interest rate resets associated with ARMs, as well as the ...
Finance and Economics Discussion Series , Paper 2015-114

Working Paper
Equilibrium Labor Market Search and Health Insurance Reform

We present and empirically implement an equilibrium labor market search model where risk averse workers facing medical expenditure shocks are matched with firms making health insurance coverage decisions. Our model delivers a rich set of predictions that can account for a wide variety of phenomenon observed in the data including the correlations among firm sizes, wages, health insurance offering rates, turnover rates and workers? health compositions. We estimate our model by Generalized Method of Moments using a combination of micro datasets including Survey of Income and Program ...
Working Papers , Paper 727

FILTER BY year

FILTER BY Content Type

FILTER BY Author

FILTER BY Jel Classification

D12 2 items

D14 2 items

G2 2 items

G21 2 items

G33 2 items

G22 1 items

show more (4)

PREVIOUS / NEXT