Dean Corbae
Biographic Data
| ID | 5867701 |
|---|---|
| NAME | Dean Corbae |
| GIVEN NAMES | Dean |
| FAMILY NAME | Corbae |
| SIGNATURE | CORBAE D |
| AFFILIATIONS | National Bureau of Economic Research |
| VERIFIED | No |
| TOTAL WORKS | 4 |
| TOTAL CITATIONS | 6 |
| AUTHOR COUNT | 4 |
| EDITOR COUNT | 0 |
| FIRST PUBLICATION YEAR | 1988 |
| LATEST PUBLICATION YEAR | 2015 |
| H-INDEX | 1 |
Leverage and the Foreclosure Crisis
How much of the foreclosure crisis can be explained by the large number of high-leverage mortgages originated during the housing boom? In our model, heterogeneous households select from mortgages with different down payments and choose whether to default given income and housing shocks. The use of low–down payment loans is initially limited by payment-to-income requirements but becomes unrestricted during the boom. The model approximates key hous…
On Cointegration and Tests of Forward Market Unbiasedness
Endogenous Market Participation and the General Equilibrium Value of Money
The authors study the monetary theory implications of fixed costs associated with trade in private assets. The authors show that with heterogeneous endowment profiles it is possible for an endogenous subset of agents to hold currency even when it is dominated in return by a competing asset. With respect to positive issues in monetary theory, the model implies that changes in the steady-state growth rate of the money supply have a negative effect …
Cointegration and Tests of Purchasing Power Parity
Nonstationarity in the levels of spot exchange rates and domestic and foreign price indices makes the use of conventional tests of the absolute version of purchasing power parity (PPP) inappropriate. If PPP is true, inter-country commodity arbitrage ensures that deviations from a linear combination of spot exchange rates and domestic and foreign price levels should be stationary. Under these conditions, exchange rates and price levels should form…
Leverage and the Foreclosure Crisis
How much of the foreclosure crisis can be explained by the large number of high-leverage mortgages originated during the housing boom? In our model, heterogeneous households select from mortgages with different down payments and choose whether to default given income and housing shocks. The use of low–down payment loans is initially limited by payment-to-income requirements but becomes unrestricted during the boom. The model approximates key hous…
Cointegration and Tests of Purchasing Power Parity
Nonstationarity in the levels of spot exchange rates and domestic and foreign price indices makes the use of conventional tests of the absolute version of purchasing power parity (PPP) inappropriate. If PPP is true, inter-country commodity arbitrage ensures that deviations from a linear combination of spot exchange rates and domestic and foreign price levels should be stationary. Under these conditions, exchange rates and price levels should form…
On Cointegration and Tests of Forward Market Unbiasedness
Endogenous Market Participation and the General Equilibrium Value of Money
The authors study the monetary theory implications of fixed costs associated with trade in private assets. The authors show that with heterogeneous endowment profiles it is possible for an endogenous subset of agents to hold currency even when it is dominated in return by a competing asset. With respect to positive issues in monetary theory, the model implies that changes in the steady-state growth rate of the money supply have a negative effect …
Leverage and the Foreclosure Crisis
How much of the foreclosure crisis can be explained by the large number of high-leverage mortgages originated during the housing boom? In our model, heterogeneous households select from mortgages with different down payments and choose whether to default given income and housing shocks. The use of low–down payment loans is initially limited by payment-to-income requirements but becomes unrestricted during the boom. The model approximates key hous…
Economics (4 works) · Monetary economics (4 works) · Cointegration (2 works) · Econometrics (2 works) · Financial economics (2 works) · Interest rate (2 works) · Monetary Policy and Economic Impact (2 works) · Asset (computer security (1 works) · Boom (1 works) · Business (1 works)