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Paper eres2012_156:
Platform competition of government sponsored enterprises and investment banks in mortgage securitization market

id eres2012_156
authors Quan Gan
year 2012
title Platform competition of government sponsored enterprises and investment banks in mortgage securitization market
source 19th Annual European Real Estate Society Conference in Edinburgh, Scotland
summary This article examines platform competition in mortgage backed security market. This market is two-sided in its nature. Mortgage backed securities are used to attract mortgage buyers on one side and property buyers on the other side. While government sponsored enterprises (e.g. Freddie Mac) can only securitize conforming mortgages, investment banks can securitize any type of mortgage. A game theoretic framework is employed to characterize possible equilibria with and without government regulation on investment banks behaviour. Empirical policy implications are also discussed.
series ERES:conference
type normal paper
email quan.gan@sydney.edu.au
discussion No discussions. Post discussion ...
ratings
session Parallel Session H6
last changed 2014/10/21 21:51
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