Tractable hedging: An implementation of robust hedging strategies
In: Journal of economic dynamics & control, Band 30, Heft 11, S. 1937-1962
ISSN: 0165-1889
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In: Journal of economic dynamics & control, Band 30, Heft 11, S. 1937-1962
ISSN: 0165-1889
SSRN
In: Beiträge des Fachbereichs Wirtschaftswissenschaften der Universität Osnabrück 9305
In: Diskussionsbeitrag
The recent financial crisis triggered the greatest recession since the 1930s and had a devastating impact on households' wealth and on their capacity to reduce their indebtedness. In the aftermath, it became clear that there is significant room for improvement in property risk management. While there has been innovation in the management of corporate finance risk, real estate has lagged behind. Now is the time to expand the range of tools available for hedging households' risks and, thus, to advance the democratization of finance. Property equity represents the major asset in households' portfolios in developed and undeveloped countries. The present paper analyzes a set of potential innovations in real estate risk management, such as price level-adjusted mortgages, property derivatives, and home equity value insurance. Financial institutions, households, and governments should work together to improve the performance of the financial instruments available and, thus, to help mitigate the worst impacts of economic cycles
BASE
In: World policy journal: WPJ, Band 31, Heft 4, S. 120-129
ISSN: 1936-0924
In: The American interest: policy, politics & culture, Band 6, Heft 3, S. 39-49
ISSN: 1556-5777
World Affairs Online
The recent financial crisis triggered the greatest recession since the 1930s and had a devastating impact on households' wealth and on their capacity to reduce their indebtedness. In the aftermath, it became clear that there is significant room for improvement in property risk management. While there has been innovation in the management of corporate finance risk, real estate has lagged behind. Now is the time to expand the range of tools available for hedging households' risks and, thus, to advance the democratization of finance. Property equity represents the major asset in households' portfolios in developed and undeveloped countries. The present paper analyzes a set of potential innovations in real estate risk management, such as price level-adjusted mortgages, property derivatives, and home equity value insurance. Financial institutions, households, and governments should work together to improve the performance of the financial instruments available and, thus, to help mitigate the worst impacts of economic cycles. ; Peer Reviewed ; Postprint (published version)
BASE
The recent financial crisis triggered the greatest recession since the 1930s and had a devastating impact on households' wealth and on their capacity to reduce their indebtedness. In the aftermath, it became clear that there is significant room for improvement in property risk management. While there has been innovation in the management of corporate finance risk, real estate has lagged behind. Now is the time to expand the range of tools available for hedging households' risks and, thus, to advance the democratization of finance. Property equity represents the major asset in households' portfolios in developed and undeveloped countries. The present paper analyzes a set of potential innovations in real estate risk management, such as price level-adjusted mortgages, property derivatives, and home equity value insurance. Financial institutions, households, and governments should work together to improve the performance of the financial instruments available and, thus, to help mitigate the worst impacts of economic cycles. ; Peer Reviewed ; Postprint (published version)
BASE
In: Jacobs Levy Equity Management Center for Quantitative Financial Research Paper
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Working paper
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Working paper
In: Journal of political economy, Band 89, Heft 6, S. 1182-1196
ISSN: 1537-534X
In: Bulletin of Economic Research, Band 71, Heft 3, S. 219-239
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In: Journal of economic dynamics & control, Band 107, S. 103715
ISSN: 0165-1889