This paper examines the use of futures contracts to hedge residential real estate price risk. We examine whether existing futures contacts can effectively be used to offset volatility in national house prices. Little evidence of any simple systematic relation between national prices and futures...

This paper extends the existing literature on managing house price risk. While previous work finds that a hedger would have reduced a large amount of variance in housing returns in Las Vegas, Nevada using Chicago Mercantile Exchange (CME) futures contracts, we show that neither static nor...

Robert Shiller has long advocated the use of derivative real estate instruments to manage home equity risk. While his Nobel idea discusses the benefits to homeowners, to date, practical issues of hedging have been largely unexplored. Starting with the 2006 listing of real estate futures...

This paper contributes to the literature by examining whether the age and gender of the firm's top executives influence market-based measures of firm risk. Using data on the S&P 1500 firms, we document that CEO and CFO age and gender have a direct effect on market-based firm risk measures in...