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FEDSPEAK: Are Lemons Sold First? Dynamic Signaling in the Mortgage Market
Monday, July 25, 2016 9:14
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Are Lemons Sold First? Dynamic Signaling in the Mortgage Market Abstract A central result in the theory of adverse selection in asset markets is that informed sellers can signal quality by delaying trade. This paper uses the residential mortgage market as a laboratory to test this mechanism. Using detailed, loan-level data on privately securitized mortgages, … Read more
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Source: http://4closurefraud.org/2016/07/25/fedspeak-are-lemons-sold-first-dynamic-signaling-in-the-mortgage-market/
