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Simulations of Savings Associations Using Alternative Mortgage Instruments

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  • James D. Vernor

Abstract

This paper reports on the development and use of a deterministic, accounting identity, simulation computer model of a federally chartered savings and loan association to observe the effect upon earnings and net worth growth, over the 1964 to 1974 period, of the use of various alternative mortgage instruments. Experiments were conducted on several kinds of variable rate mortgages, graduated payment mortgages, and price level adjusted mortgages; various interest reference rates were tested along with alternative systems of constraining VRM changes, alternative graduation rates, and various systems for paying interest to savers.

Suggested Citation

  • James D. Vernor, 1979. "Simulations of Savings Associations Using Alternative Mortgage Instruments," Real Estate Economics, American Real Estate and Urban Economics Association, vol. 7(2), pages 204-226, June.
    • Handle: RePEc:bla:reesec:v:7:y:1979:i:2:p:204-226
    DOI: 10.1111/1540-6229.t01-4-00201
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