Optimal mortgage refinancing
Subtitle: a closed form solution
By: Sumit Agarwal, John C. Driscoll, David Laibson
Contributors: Driscoll, John C. (John Christopher), 1969-; Laibson, David I.; National Bureau of Economic Research
Series: NBER working paper series -- working paper 13487; Working paper series (National Bureau of Economic Research : Online) -- working paper no. 13487.
Publisher: National Bureau of Economic Research
Published: 2007
Place of publication: Cambridge, MA
Language: eng
Format: [electronic resource] :
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"--National Bureau of Economic Research web site.
Notes: Title from PDF file as viewed on 10/22/2007.

Includes bibliographical references.

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