Derivatives Markets for Home Prices

Robert Shiller

Working Papers from Yale University, Department of Economics

Abstract: The establishment recently of risk management vehicles for home prices is described. The potential value of such vehicles, once they become established, is seen in consideration of the inefficiency of the market for single family homes. Institutional changes that might derive from the establishment of these new markets are described. An important reason for these beginnings of real estate derivative markets is the advance in home price index construction methods, notably the repeat sales method, that have appeared over the last twenty years. Psychological barriers to the full success of such markets are discussed.

JEL-codes: G13 (search for similar items in EconPapers)
Date: 2008-03
New Economics Papers: this item is included in nep-fmk and nep-ure
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (46)

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Related works:
Working Paper: Derivatives Markets for Home Prices (2008)
Working Paper: Derivatives Markets for Home Prices (2008)
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Persistent link: https://EconPapers.repec.org/RePEc:ecl:yaleco:46

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