Downward-sloping term structure of lease rates: a puzzle
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- Miki Seko & Kazuto Sumita & Jiro Yoshida, 2012. "Downward-Sloping Term Structure of Lease Rates: A Puzzle," Keio/Kyoto Joint Global COE Discussion Paper Series 2011-042, Keio/Kyoto Joint Global COE Program.
References listed on IDEAS
- Eric Clapham & Åke Gunnelin, 2003. "Rental Expectations and the Term Structure of Lease Rates," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 31(4), pages 647-670, December.
- Steven R. Grenadier, 2005. "An Equilibrium Analysis of Real Estate Leases," The Journal of Business, University of Chicago Press, vol. 78(4), pages 1173-1214, July.
- Richard Stanton & Nancy Wallace, 2009. "An Empirical Test of a Contingent Claims Lease Valuation Model," Journal of Real Estate Research, American Real Estate Society, vol. 31(1), pages 1-26.
- Iwata, Shinichiro, 2002. "The Japanese Tenant Protection Law and Asymmetric Information on Tenure Length," Journal of Housing Economics, Elsevier, vol. 11(2), pages 125-151, June.
- Brent Ambrose & Yildiray Yildirim, 2008. "Credit Risk and the Term Structure of Lease Rates: A Reduced Form Approach," The Journal of Real Estate Finance and Economics, Springer, vol. 37(3), pages 281-298, October.
- Agarwal, Sumit & Ambrose, Brent W. & Huang, Hongming & Yildirim, Yildiray, 2011. "The Term Structure of Lease Rates with Endogenous Default Triggers and Tenant Capital Structure: Theory and Evidence," Journal of Financial and Quantitative Analysis, Cambridge University Press, vol. 46(02), pages 553-584, April.
- Grenadier, Steven R., 1995. "Valuing lease contracts A real-options approach," Journal of Financial Economics, Elsevier, vol. 38(3), pages 297-331, July.
- McConnell, John J. & Schallheim, James S., 1983. "Valuation of asset leasing contracts," Journal of Financial Economics, Elsevier, vol. 12(2), pages 237-261, August.
- Clapham, Eric & Gunnelin, Åke, 2003. "Rental Expectations and the Term Structure of Lease Rates," SIFR Research Report Series 16, Institute for Financial Research.
- Miki Seko & Kazuto Sumita, 2007. "Japanese Housing Tenure Choice and Welfare Implications after the Revision of the Tenant Protection Law," The Journal of Real Estate Finance and Economics, Springer, vol. 35(3), pages 357-383, October.
- Marshall E. Blume & Donald B. Keim, "undated". "The Valuation of Callable Bonds," Rodney L. White Center for Financial Research Working Papers 14-89, Wharton School Rodney L. White Center for Financial Research.
More about this item
Keywordslease contracts; term structure; cancellation option; hedonic regression; residential real estate; option premium; Japan;
- E43 - Macroeconomics and Monetary Economics - - Money and Interest Rates - - - Interest Rates: Determination, Term Structure, and Effects
- L85 - Industrial Organization - - Industry Studies: Services - - - Real Estate Services
- R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets
- R21 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Household Analysis - - - Housing Demand
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