Optimal mortgage refinancing
a closed form solution
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Author
Contributions
- Driscoll, John C. 1969- - Contributor
- Laibson, David I. - Contributor
- National Bureau of Economic Research. - Contributor
Publication
2007 - National Bureau of Economic Research, Cambridge, Mass, Massachusetts
Language
English
Word Count
10,250 words, Guess
Page Count
41 pages
Identifiers
- OCLC Control Number180705660
- Open LibraryOL17635535M
Description
We derive the first closed-form optimal mortgage refinancing rule. The expression is derived by using the Lambert-W function to solve a tractable class of mortgage refinancing problems. We calibrate our solution and show that our quantitative results closely match those reported by researchers who use numerical methods.
Subjects
Topics
Links
Other Editions
- Optimal mortgage refinancing: a closed form solution
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