Is the Market for Mortgage-Backed Securities a Market for Lemons?
作者： Chris Downing , Dwight Jaffee , Nancy Wallace
DOI: 10.1093/RFS/HHN114
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摘要: … For the four largest coupon groups in our full sample of Freddie Mac PCs, we find a “lemons … , and this spread accounts for 13–45% of the overall prepayment spread of these securities. …
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