Journal ArticleDOI
On the Optimality of the Hybrid Tenure Mode
TLDR
In this paper, a two-period model with risky rent prices is presented, and conditions under which the risk-averse asset occupant is inclined to combine the two traditional tenure modes.About:
This article is published in Journal of Housing Economics.The article was published on 1998-03-01. It has received 18 citations till now. The article focuses on the topics: Leasehold estate.read more
Citations
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Owner-Occupied Housing as a Hedge Against Rent Risk
TL;DR: The authors found that even though house price risk endogenously increases with rent risk, the latter empirically dominates for most households so housing market risk actually increases homeownership rates and house prices.
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Macroeconomics and housing: a review of the literature
TL;DR: There is a relatively recent, growing recognition about the importance of the interactive nexus between and among housing markets and the macroeconomy as discussed by the authors, and a selective survey of the small but nascent research efforts focused upon interplay between the housing markets, and macro economy is presented in this paper.
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Tenure choice and the riskiness of non-housing consumption
TL;DR: In this article, the authors analyzed a household's choice of housing tenure within a dynamic utility maximization model that yields simple analytical results under uncertainty of income, housing prices, and rents.
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Real Assets and Capital Structure
Murillo Campello,Erasmo Giambona +1 more
TL;DR: The authors characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets and find that asset redeployability is a main driver of leverage when credit frictions are high.
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Real Assets and Capital Structure
Murillo Campello,Erasmo Giambona +1 more
TL;DR: In this paper, the authors characterize the relation between asset structure and capital structure by exploiting variation in the salability of corporate assets and show that the redeployability of tangible assets is a main determinant of corporate leverage.
References
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Journal ArticleDOI
Risk Aversion in the Small and in the Large
TL;DR: In this article, a measure of risk aversion in the small, the risk premium or insurance premium for an arbitrary risk, and a natural concept of decreasing risk aversion are discussed and related to one another.
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Increasing risk: I. A definition
TL;DR: The authors tried to answer the question: When is a random variable Y "more variable" than another random variable X "less variable" by asking when a variable X is more variable than another variable Y.
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