Mays, Elizabeth; DeMarco, Edward J. - In: Real Estate Economics 17 (1989) 3, pp. 363-379
This paper develops a model of the demand for Federal Home Loan Bank (FHLB) advances by thrift institutions. It expands on a model developed in Kent [1983] by accounting for net worth in the balance sheet constraint and for borrowing in excess of the "advances limit." The demand equation is...