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基本説明
Features 24 original essays, including an editorial introduction and three section overviews. Includes 39 world-class authors from the UK, Europe, Australia, and North America. Key topics include: the housing price bubble and crash; the subprime mortgage crisis in the US and its aftermath; the links
between housing wealth, the macroeconomy, and the welfare of home-occupiers; the mitigation of credit and housing investment risks.
Full Description
The Blackwell Companion to the Economics of Housing will help students and professionals alike to explore key elements of the housing economy: home prices, housing wealth, mortgage debt, and financial risk.
Features 24 original essays, including an editorial introduction and three section overviews
Includes 39 world-class authors from a mix of educational and financial organizations in the UK, Europe, Australia, and North America
Broadly-based, scholarly, and accessible, serving students and professionals who wish to understand how today's housing economy works
Profiles the role and relevance of housing wealth; the mismanagement of mortgage debt; and the pitfalls and potential of hedging housing risk
Key topics include: the housing price bubble and crash; the subprime mortgage crisis in the US and its aftermath; the links between housing wealth, the macroeconomy, and the welfare of home-occupiers; the mitigation of credit and housing investment risks
Specific case studies help to illustrate concepts, along with new data sets and analyses to illustrate empirical points
Contents
Chapter 1: Introduction (Susan J. Smith, Beverley A. Searle, and Gareth D. Powells). Part One: Banking on Housing.
Introduction (Editors).
Chapter 2: Housing and Mortgage markets: An OECD perspective (Nathalie Girouard).
Chapter 3: Is Housing Wealth an 'ATM'?: International Trends (Vladimir Kluyev and Paul Mills).
Chapter 4: Housing Wealth Effects and Course of the US Economy: Theory, Evidence, and Policy Implications (Eric S. Belsky).
Chapter 5: The rise in house prices and household debt in the United Kingdom: potential causes and implications (Matt Waldron and Fabrizio Zampolli).
Chapter 6: Housing Wealth and Mortgage Debt in Australia (Mike Berry).
Chapter 7: A Survey of Housing Equity Withdrawal and Injection in Australia (Carl Schwartz, Tim Hampton, Christine Lewis and David Norman).
Chapter 8: What do we know about equity withdrawal by households in New Zealand? (Mark Smith).
Chapter 9: What happened to the housing system? (Duncan Maclennan).
Part Two: Housing Wealth as a Financial Buffer.
Introduction (Editors).
Chapter 10: Trading on housing wealth: political risk in an ageing society (Mike Berry and Tony Dalton).
Chapter 11: Housing Equity Withdrawal and Retirement: Evidence from the Household, Income and Labour Dynamics in Australia Survey (HILDA) (Gavin Wood and Christian A. Nygaard).
Chapter 12: Housing Markets, Wealth and 'Self-Insurance' in Spain (Joan Costa-Font, Joan Gill and Oscar Mascarilla).
Chapter 13: Housing wealth: a safety net of last resort? Findings from a European study (Deborah Quilgars and Anwen Jones).
Chapter 14: 'Pots of gold': Housing wealth and economic wellbeing in Australia (Val Colic-Peisker, Guy Johnson and Susan J. Smith).
Chapter 15: Housing Wealth as Insurance: Insights from the UK (Beverley A Searle and Susan J Smith).
Chapter 16: Housing to manage debt and family care in the USA (Helen Jarvis).
Chapter 17: The Subprime State of Race (Elvin K. Wyly).
Chapter 18: The Housing Finance Revolution (Richard Green and Susan Wachter).
Part Three: Mitigating Housing Risk.
Introduction (Editors).
Chapter 19: How Housing Busts End: House Prices, User Cost and Rigidities During Down Cycles (Karl E. Case and John M. Quigley).
Chapter 20: Is there a Role for Shared Equity Products in Twenty-First Century Housing? Experience in Australia and the UK (Christine Whitehead, and Judith Yates).
Chapter 21: Trading on house price risk: Index derivatives and home equity insurance (Peter Englund).
Chapter 22: Hedging Housing Risk: A Financial Markets Perspective (Jonathan Reiss, John Blank, Peter Sceats, John Edwards with Susan J Smith).
Creating housing futures: a view from the market (Jonathan Reiss).
Residential property derivatives: exchange-traded futures and options (John Blank).
Residential Property Derivatives: The role and relevance of over-the-counter trading (Peter Sceats).
An interim Solution (John Edwards).
Chapter 23: Hedging Housing Risk: Is it Feasible? (Steve Swidler and Harris Hollans).
Chapter 24: Housing Risk and Property Derivatives: the Role of Financial Engineering (Juerg Syz).
Chapter 25: Housing Futures: A role for derivatives? (Susan J. Smith).
