One of the important considerations for the transition economies of Eastern Europe is the prospect for long-term economic growth. The preliminary data since the beginning of the transition period indicates a wide-range of outcomes across the two dozen or so reforming economies. Recent...

[abstract missing - contribution appeared in the programme]

ERES:conference

ERES:conference

This note studies how mortgage borrowers with different levels of default risk would self-select between different loan-to-value ratios. It shows that for large default costs there exists a separating equilibrium in which low-risk borrowers choose bigger loan amounts than high-risk borrowers....

ERES:conference