Journal of Real Estate Finance and Economics, Nov 1, 1993
Current real estate statistical valuation involves the estimation of parameters within a posited ... more Current real estate statistical valuation involves the estimation of parameters within a posited specification. Suchparametric estimation requires judgment concerning model (1) variables; and (2) functional form. In contrast,nonparametric regression estimation requires attention to (1) but permits greatly reduced attention to (2). Parametric estimators functionally model the parameters and variables affectingE(y¦x) while nonparametric estimators directly modelpdf(y, x) and henceE(y¦x).
Abstract This paper provides empirical evidence that a strong statutory right of redemption leads... more Abstract This paper provides empirical evidence that a strong statutory right of redemption leads to a statistically significant and an economically large impact in reducing bankruptcy filings. Under the statutory right of redemption, borrowers can repurchase the property after the foreclosure auction at a certain price. Implementations of the statutory right of redemption, however, vary substantially among states. When categorizing the redemption rights from an economic perspective, we find that a strong redemption right leads to a greater than 30% decrease in the odds that a borrower with a defaulted mortgage will file for bankruptcy.
... 1865 843830, fax: (+ 44) 1865 853333. e-mail: permissions@ elsevier. com. Requests may also b... more ... 1865 843830, fax: (+ 44) 1865 853333. e-mail: permissions@ elsevier. com. Requests may also be completed on-line via the Elsevier homepage (http://www. elsevier. com/locate/permissions). In the USA, users may clear permissions ...
Journal of Real Estate Finance and Economics, Nov 1, 1993
Current real estate statistical valuation involves the estimation of parameters within a posited ... more Current real estate statistical valuation involves the estimation of parameters within a posited specification. Suchparametric estimation requires judgment concerning model (1) variables; and (2) functional form. In contrast,nonparametric regression estimation requires attention to (1) but permits greatly reduced attention to (2). Parametric estimators functionally model the parameters and variables affectingE(y¦x) while nonparametric estimators directly modelpdf(y, x) and henceE(y¦x).
Abstract This paper provides empirical evidence that a strong statutory right of redemption leads... more Abstract This paper provides empirical evidence that a strong statutory right of redemption leads to a statistically significant and an economically large impact in reducing bankruptcy filings. Under the statutory right of redemption, borrowers can repurchase the property after the foreclosure auction at a certain price. Implementations of the statutory right of redemption, however, vary substantially among states. When categorizing the redemption rights from an economic perspective, we find that a strong redemption right leads to a greater than 30% decrease in the odds that a borrower with a defaulted mortgage will file for bankruptcy.
... 1865 843830, fax: (+ 44) 1865 853333. e-mail: permissions@ elsevier. com. Requests may also b... more ... 1865 843830, fax: (+ 44) 1865 853333. e-mail: permissions@ elsevier. com. Requests may also be completed on-line via the Elsevier homepage (http://www. elsevier. com/locate/permissions). In the USA, users may clear permissions ...
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