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Yongheng Deng

National University of Singapore, Business School and the School of Design and Environment

Head of Department of Real Estate, Professor of Finance and Real Estate

4 Architecture Drive

Singapore 117566

Singapore

http://www.ires.nus.edu.sg

National University of Singapore (NUS) - Department of Real Estate

Professor of Real Estate and Finance, Provost`s Chair and Director

Singapore

  • National University of Singapore, Business School and the School of Design and Environment

    • Email
    • Tel: (65) 6516 8291
    • Fax: (65) 6774 1003

  • National University of Singapore (NUS) - Department of Real Estate

SCHOLARLY PAPERS

56

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307

Scholarly Papers (56)

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1.

Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options

Downloads 2,509 ( 3,708)
Citation 136

Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options

Number of pages: 47 Posted: 22 Mar 1999
John M. Quigley, Yongheng Deng and Robert Van Order
University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased), National University of Singapore, Business School and the School of Design and Environment and Federal Home Loan Mortgage Corporation (FHLMC) - Housing Economics and Financial Research
Downloads 2,509 (3,629)
Citation 136

Abstract:

Mortgage Terminations, Heterogeneity and the Exercise of Mortgage Options

Econometrica
Posted: 30 Mar 1999
Yongheng Deng, John M. Quigley and Robert Van Order
National University of Singapore, Business School and the School of Design and Environment, University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased) and Federal Home Loan Mortgage Corporation (FHLMC) - Housing Economics and Financial Research

Abstract:

2.

Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans

NUS Institute of Real Estate Studies Working Paper IRES2010-011
Number of pages: 39 Posted: 06 Jun 2003 Last Revised: 18 Mar 2012
Jun Chen and Yongheng Deng
Property & Portfolio Research, Inc. and National University of Singapore, Business School and the School of Design and Environment
Downloads 1,027 (15,933)
Citation 5

Abstract:

default risk, CMBS loan, special service, workout strategy, hazard model, logit model

3.

Risk-Based Pricing and the Enhancement of Mortgage Credit Availability among Underserved and Higher Credit-Risk Populations

Number of pages: 47 Posted: 17 Sep 2002
Yongheng Deng and Stuart A. Gabriel
National University of Singapore, Business School and the School of Design and Environment and University of California, Los Angeles - Anderson School of Management
Downloads 856 (19,595)
Citation 16

Abstract:

4.

Woodhead Behavior and the Pricing of Residential Mortgages

NUS Institute of Real Estate Studies Working Paper Series IRES2012-025
Number of pages: 34 Posted: 04 Nov 2001 Last Revised: 23 Jan 2013
Yongheng Deng and John M. Quigley
National University of Singapore, Business School and the School of Design and Environment and University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased)
Downloads 760 (23,803)
Citation 17

Abstract:

Mortgage prepayment, heterogeneity, mortgage pricing, behavioral finance, martingale transform

5.

Unobserved Heterogeneity in Models of Competing Mortgage Termination

Number of pages: 41 Posted: 05 Mar 2004
John M. Clapp, Xudong An and Yongheng Deng
University of Connecticut - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and National University of Singapore, Business School and the School of Design and Environment
Downloads 665 (27,740)
Citation 13

Abstract:

Mortgage termination risks, Cox Proportional Hazard Model (CPH), Multinomial Logit Model (MNL), Out-of-sample prediction; Unobserved heterogeneity

6.

Value Creation Through Securitization: Evidence from the CMBS Market

Downloads 594 ( 35,648)
Citation 4

Value Creation Through Securitization: Evidence from the CMBS Market

Number of pages: 44 Posted: 22 Feb 2008
Xudong An, Yongheng Deng and Stuart A. Gabriel
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and University of California, Los Angeles - Anderson School of Management
Downloads 594 (35,130)
Citation 4

Abstract:

Securitization, commercial mortgage-backed securities, conduit loans, portfolio loans, mortgage-treasury rate spread, simultaneous equation model

Value Creation Through Securitization: Evidence from the CMBS Market

Journal of Real Estate Finance and Economics, Vol. 38, No. 3, 2009
Posted: 15 Nov 2008
Xudong An, Yongheng Deng and Stuart A. Gabriel
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and University of California, Los Angeles - Anderson School of Management

Abstract:

securitization, commercial mortgage-backed securities (CMBS), conduit loans, portfolio loans, mortgage-treasury rate spread, simultaneous equation model

7.

CDO Market Implosion and the Pricing of Subprime Mortgage-Backed Securities

Number of pages: 42 Posted: 11 Mar 2009 Last Revised: 07 Sep 2010
Yongheng Deng, Stuart A. Gabriel and Anthony B. Sanders
National University of Singapore, Business School and the School of Design and Environment, University of California, Los Angeles - Anderson School of Management and George Mason University - School of Business
Downloads 488 (43,143)
Citation 4

Abstract:

collateralized debt obligations, subprime crisis, yield spreads on mortgage-backed securities

8.

Evaluation of Reverse Mortgage Programs in Korea

NUS Institute of Real Estate Studies Working Papers IRES2011-027
Number of pages: 19 Posted: 18 Oct 2006 Last Revised: 13 Nov 2011
Seungryul Ma and Yongheng Deng
Daegu University and National University of Singapore, Business School and the School of Design and Environment
Downloads 451 (44,927)
Citation 2

Abstract:

Insurance premium structure, Reverse mortgage, Constant monthly payments, Graduate monthly payments, Total annual loan costs rates

9.

Spatial Heterogeneity in Mortgage Terminations by Refinance, Sale and Default

Number of pages: 35 Posted: 23 Jul 2003
Yongheng Deng, Andrey D. Pavlov and Lihong Yang
National University of Singapore, Business School and the School of Design and Environment, Simon Fraser University (SFU) - Finance Area and University of Southern California
Downloads 414 (55,488)
Citation 13

Abstract:

duration model, competing risks, space-varying coefficient, martingale residual, mortgage refinance, default, residential mobility

10.

Commercial Mortgage Terminations: Evidence from CMBS

Number of pages: 22 Posted: 11 Mar 2005
Yongheng Deng, John M. Quigley and Anthony B. Sanders
National University of Singapore, Business School and the School of Design and Environment, University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased) and George Mason University - School of Business
Downloads 410 (53,758)
Citation 6

Abstract:

11.

Duration of Residence in the Rental Housing Market

Downloads 403 ( 58,209)
Citation 4

Duration of Residence in the Rental Housing Market

USC FBE Working Paper No. 02-3
Number of pages: 31 Posted: 26 Mar 2002
Yongheng Deng, Frank Nothaft and Stuart A. Gabriel
National University of Singapore, Business School and the School of Design and Environment, Freddie Mac and University of California, Los Angeles - Anderson School of Management
Downloads 403 (57,665)
Citation 4

Abstract:

Duration of Residence in the Rental Housing Market

Journal of Real Estate Finance & Economics, Vol. 26, No. 2
Posted: 09 Dec 2002
Yongheng Deng, Frank Nothaft and Stuart A. Gabriel
National University of Singapore, Business School and the School of Design and Environment, Freddie Mac and University of California, Los Angeles - Anderson School of Management

Abstract:

duration of residence, rental housing, hazard model

12.

Incentives and Outcomes: China's Environmental Policy

Downloads 377 ( 63,072)

Incentives and Outcomes: China's Environmental Policy

Capitalism and Society, Vol. 9, No. 1, Article 2, 2014
Number of pages: 41 Posted: 24 Apr 2014
Jing Wu, Yongheng Deng, Jun Huang, Randall Morck and Bernard Yin Yeung
Tsinghua University - Institute of Real Estate Studies, National University of Singapore, Business School and the School of Design and Environment, Shanghai University of Finance and Economics, National Bureau of Economic Research (NBER) and National University of Singapore - Business School
Downloads 222 (112,317)

Abstract:

Incentives and Outcomes: China's Environmental Policy

ECGI - Finance Working Paper No. 368
Number of pages: 56 Posted: 24 Jan 2013 Last Revised: 24 Jul 2013
Jing Wu, Yongheng Deng, Jun Huang, Randall Morck and Bernard Yin Yeung
Tsinghua University - Institute of Real Estate Studies, National University of Singapore, Business School and the School of Design and Environment, Shanghai University of Finance and Economics, National Bureau of Economic Research (NBER) and National University of Singapore - Business School
Downloads 147 (164,575)

Abstract:

Urban Infrastructure, Environmental Protection, Local Government, China

Incentives and Outcomes: China&Apos;S Environmental Policy

NBER Working Paper No. w18754
Number of pages: 48 Posted: 30 Sep 2013
Jing Wu, Yongheng Deng, Jun Huang, Randall Morck and Bernard Yin Yeung
Tsinghua University - Institute of Real Estate Studies, National University of Singapore, Business School and the School of Design and Environment, Shanghai University of Finance and Economics, National Bureau of Economic Research (NBER) and National University of Singapore - Business School
Downloads 8 (524,829)

Abstract:

13.

Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination

Number of pages: 48 Posted: 22 Sep 2005
Xudong An, Yongheng Deng and John M. Clapp
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and University of Connecticut - Department of Finance
Downloads 364 (64,435)
Citation 3

Abstract:

Mortgage termination risks, Multinomial Logit Model (MNL), Nested Logit Model (NMNL), Mobility, Refinance, Default

14.

Economic Returns to Energy-Efficient Investments in the Housing Market: Evidence from Singapore

Number of pages: 36 Posted: 06 Sep 2010 Last Revised: 24 Apr 2011
Yongheng Deng, Zhiliang LI and John M. Quigley
National University of Singapore, Business School and the School of Design and Environment, affiliation not provided to SSRN and University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased)
Downloads 319 (64,032)
Citation 3

Abstract:

environmental sustainability, housing market, energy efficiency, green labels

15.

Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China's Housing Market

Downloads 253 ( 98,680)
Citation 2

Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China's Housing Market

Number of pages: 39 Posted: 06 Aug 2008
Yongheng Deng and Peng Liu
National University of Singapore, Business School and the School of Design and Environment and Cornell University
Downloads 253 (98,210)
Citation 2

Abstract:

Mortgage, Prepayment, Default, Credit Risk, Forward Contract, Pre-sale

Mortgage Prepayment and Default Behavior with Embedded Forward Contract Risks in China's Housing Market

Journal of Real Estate Finance and Economics, Vol. 38, No. 3, 2009
Posted: 09 Nov 2008
Yongheng Deng and Peng Liu
National University of Singapore, Business School and the School of Design and Environment and Cornell University

Abstract:

mortgage, prepayment, default, credit risk, forward contract, pre-sale

16.

China’s Pseudo-Monetary Policy

Downloads 251 ( 99,485)
Citation 6

China’s Pseudo-Monetary Policy

Review of Finance, Forthcoming
Number of pages: 67 Posted: 04 Mar 2011 Last Revised: 20 May 2014
Yongheng Deng, Randall Morck, Jing Wu and Bernard Yin Yeung
National University of Singapore, Business School and the School of Design and Environment, National Bureau of Economic Research (NBER), Institute of Real Estate Studies, NUS and National University of Singapore - Business School
Downloads 206 (121,075)
Citation 6

Abstract:

Monetary and Fiscal Stimuli, Ownership Structure, and China's Housing Market

NBER Working Paper No. w16871
Number of pages: 63 Posted: 14 Mar 2011
Yongheng Deng, Randall Morck, Jing Wu and Bernard Yin Yeung
National University of Singapore, Business School and the School of Design and Environment, National Bureau of Economic Research (NBER), Institute of Real Estate Studies, NUS and National University of Singapore - Business School
Downloads 45 (345,948)
Citation 6

Abstract:

17.

Shapley Cost Allocation Coincides With Relative Status: The Case of Skyscrapers

Number of pages: 42 Posted: 18 Jun 2004
Danny Ben-Shahar, Yongheng Deng and Eyal Sulganik
Tel Aviv University, National University of Singapore, Business School and the School of Design and Environment and Interdisciplinary Center (IDC) Herzliyah - Adelson School of Entrepreneuship
Downloads 244 (97,082)
Citation 1

Abstract:

18.

Evaluating Conditions in Major Chinese Housing Markets

46th Annual AREUEA Conference Paper
Number of pages: 45 Posted: 01 Dec 2010
Yongheng Deng, Joseph Gyourko and Jing Wu
National University of Singapore, Business School and the School of Design and Environment, University of Pennsylvania - Real Estate Department and affiliation not provided to SSRN
Downloads 227 (97,871)
Citation 6

Abstract:

19.

An Examination of the Impact of Rent Control on Mobile Home Prices in California

Number of pages: 49 Posted: 19 Oct 2006
Diehang Zheng, Yongheng Deng, Peter Gordon and David Dale-Johnson
University of Southern California - Sol Price School of Public Policy, National University of Singapore, Business School and the School of Design and Environment, University of Southern California - Sol Price School of Public Policy and University of Southern California - Marshall School of Business
Downloads 215 (107,482)

Abstract:

Mobile Home, Rent Control, Capitalization, Regulatory Taking

20.

Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation

Downloads 209 (119,690)
Citation 1

Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation

Number of pages: 42 Posted: 23 Jan 2013
Xudong An, Yongheng Deng, Jeffrey D. Fisher and Maggie Rong Hu
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Indiana University - Kelley School of Business - Department of Finance and Chinese University of Hong Kong
Downloads 209 (119,339)
Citation 1

Abstract:

Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation

Real Estate Economics, Vol. 44, Issue 2, pp. 378-410, 2016
Number of pages: 33 Posted: 11 Apr 2016
Xudong An, Yongheng Deng, Jeffrey D. Fisher and Maggie Rong Hu
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Indiana University - Kelley School of Business - Department of Finance and Chinese University of Hong Kong
Downloads 0
Citation 1

Abstract:

Commercial Real Estate Rental Index: A Dynamic Panel Data Model Estimation

Real Estate Economics, Forthcoming
Posted: 08 Jun 2014
Yongheng Deng, Jeffrey D. Fisher, Maggie Rong Hu and Xudong An
National University of Singapore, Business School and the School of Design and Environment, Indiana University - Kelley School of Business - Department of Finance, Chinese University of Hong Kong and Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Abstract:

rental index, cap rate, commercial real estate, dynamic panel data model

21.

Index Revision, House Price Risk, and the Market for House Price Derivatives

Downloads 197 (126,615)
Citation 3

Index Revision, House Price Risk, and the Market for House Price Derivatives

Number of pages: 32 Posted: 22 Feb 2008
John M. Quigley and Yongheng Deng
University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased) and National University of Singapore, Business School and the School of Design and Environment
Downloads 197 (126,394)
Citation 3

Abstract:

Repeat sales index, index revision, house price risk, house price derivatives

Index Revision, House Price Risk, and the Market for House Price Derivatives

Journal of Real Estate Finance and Economics, Vol. 37, No. 3, 2008
Posted: 30 Sep 2008
Yongheng Deng and John M. Quigley
National University of Singapore, Business School and the School of Design and Environment and University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased)

Abstract:

repeat sales index, index revision, house price risk, house price derivative

22.

Evaluating Conditions in Major Chinese Housing Markets

NBER Working Paper No. w16189
Number of pages: 47 Posted: 19 Jul 2010
Jing Wu, Joseph Gyourko and Yongheng Deng
Institute of Real Estate Studies, NUS, University of Pennsylvania - Real Estate Department and National University of Singapore, Business School and the School of Design and Environment
Downloads 193 (120,791)
Citation 6

Abstract:

23.

Model Stability and the Subprime Mortgage Crisis

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 43 Posted: 14 Sep 2010
Xudong An, Yongheng Deng, Eric Rosenblatt and Vincent W. Yao
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Federal National Mortgage Association (Fannie Mae) - Research and Georgia State University - J. Mack Robinson College of Business
Downloads 174 (141,913)
Citation 2

Abstract:

Subprime Mortgage, Default Risk, Model Stability, Hazard Model, Logit Model

24.

Asymmetric Information, Adverse Selection, and the Pricing of CMBS

Number of pages: 61 Posted: 18 Jun 2010 Last Revised: 09 Apr 2011
Xudong An, Yongheng Deng and Stuart A. Gabriel
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and University of California, Los Angeles - Anderson School of Management
Downloads 167 (134,930)
Citation 10

Abstract:

CMBS, conduit lending, asymmetric information, lemons discount

25.

Default Risk of CMBS Loans: What Explains the Regional Variations?

Number of pages: 40 Posted: 06 Sep 2010
Xudong An, Yongheng Deng and Anthony B. Sanders
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and George Mason University - School of Business
Downloads 158 (134,246)
Citation 2

Abstract:

default risk, CMBS loan, regional variation, hazard model, martingale residual

26.

Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market

Downloads 141 (170,030)

Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market

Number of pages: 44 Posted: 12 Feb 2008 Last Revised: 20 Feb 2012
Yongheng Deng, Stuart A. Gabriel, Kiyohiko G. Nishimura and Diehang Zheng
National University of Singapore, Business School and the School of Design and Environment, University of California, Los Angeles - Anderson School of Management, Bank of Japan and University of Southern California - Sol Price School of Public Policy
Downloads 116 (198,794)

Abstract:

price dispersion, search models, housing markets, time on the market

Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market

Number of pages: 48 Posted: 03 Mar 2012 Last Revised: 05 Mar 2012
Yongheng Deng, Stuart A. Gabriel, Kiyohiko G. Nishimura and Diehang (Della) Zheng
National University of Singapore, Business School and the School of Design and Environment, University of California, Los Angeles - Anderson School of Management, affiliation not provided to SSRN and affiliation not provided to SSRN
Downloads 24 (433,552)

Abstract:

price dispersion, search models, housing markets, time on the market

Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market

Real Estate Economics, Vol. 40, pp. S234-S272, 2012
Number of pages: 39 Posted: 28 Dec 2012
Yongheng Deng, Stuart A. Gabriel, Kiyohiko G. Nishimura and Diehang (Della) Zheng
National University of Singapore, Business School and the School of Design and Environment, University of California, Los Angeles - Anderson School of Management, Bank of Japan and affiliation not provided to SSRN
Downloads 1 (568,437)

Abstract:

Optimal Pricing Strategy in the Case of Price Dispersion: New Evidence from the Tokyo Housing Market

Real Estate Economics, Forthcoming
Posted: 06 Mar 2012
Yongheng Deng, Stuart A. Gabriel, Kiyohiko G. Nishimura and Diehang Zheng
National University of Singapore, Business School and the School of Design and Environment, University of California, Los Angeles - Anderson School of Management, Bank of Japan and University of Southern California - Sol Price School of Public Policy

Abstract:

price dispersion, search models, housing markets, time on the market

27.

What is Subordination About? Credit Risk and Subordination Levels in Commercial Mortgage-Backed Securities (CMBS)

Downloads 134 (177,018)

What is Subordination About? Credit Risk and Subordination Levels in Commercial Mortgage-Backed Securities (CMBS)

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 40 Posted: 19 Nov 2010 Last Revised: 21 Jul 2015
Xudong An, Yongheng Deng, Joseph Nichols and Anthony B. Sanders
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Board of Governors of the Federal Reserve System and George Mason University - School of Business
Downloads 134 (177,517)

Abstract:

What is Subordination About? Credit Risk and Subordination Levels in Commercial Mortgage-Backed Securities (CMBS)

Journal of Real Estate Finance and Economics, Vol. 51, No. 2, 2015
Posted: 04 Sep 2015
Xudong An, Yongheng Deng, Joseph Nichols and Anthony B. Sanders
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Board of Governors of the Federal Reserve System and George Mason University - School of Business

Abstract:

Commercial mortgage-backed securities (CMBS); Subordination; Credit risk; Credit rating agency (CRA)

28.

Understanding the Risk of China's Local Government Debts and its Linkage with Property Markets

Number of pages: 36 Posted: 29 Jan 2015
Brent W. Ambrose, Yongheng Deng and Jing Wu
Pennsylvania State University, National University of Singapore, Business School and the School of Design and Environment and Tsinghua University - Institute of Real Estate Studies
Downloads 133 (66,972)

Abstract:

China municipal bonds, fixed-income securities, house prices, China development

29.

Information Asymmetry and Organizational Structure: Evidence from REITs

Journal of Real Estate Finance and Economics, Forthcoming
Number of pages: 56 Posted: 16 Nov 2011 Last Revised: 22 Feb 2017
Yongheng Deng, Maggie Rong Hu and Anand Srinivasan
National University of Singapore, Business School and the School of Design and Environment, Chinese University of Hong Kong and CAFRAL, Reserve Bank of India
Downloads 129 (181,360)

Abstract:

external advisor, Real Estate Investment Trust, organizational structure, loan contract terms, information opacity, certification effect

30.

Breakeven Determination of Loan Limits for Reverse Mortgages under Information Asymmetry

Downloads 122 (190,558)

Breakeven Determination of Loan Limits for Reverse Mortgages under Information Asymmetry

Number of pages: 48 Posted: 06 Mar 2011 Last Revised: 28 Dec 2012
Ming Pu, Gang-Zhi Fan and Yongheng Deng
Southwestern University of Finance and Economics (SWUFE) - Research Institute of Economics & Management, Konkuk University - Department of Real Estate Studies and National University of Singapore, Business School and the School of Design and Environment
Downloads 122 (191,284)

Abstract:

Reverse Mortgages, Heterogeneous Beliefs, Information Asymmetry, Loan Limits

Breakeven Determination of Loan Limits for Reverse Mortgages Under Information Asymmetry

Journal of Real Estate Finance and Economics, Vol. 48, No. 3, 2014
Posted: 26 Mar 2014
Ming Pu, Gang-Zhi Fan and Yongheng Deng
Southwestern University of Finance and Economics (SWUFE) - Research Institute of Economics & Management, Konkuk University - Department of Real Estate Studies and National University of Singapore, Business School and the School of Design and Environment

Abstract:

Reverse mortgages; Heterogeneous beliefs; Information asymmetry; Loan limits

31.

The Hidden Peril: The Role of the Condo Loan Market in the Recent Financial Crisis

Number of pages: 48 Posted: 08 Nov 2012 Last Revised: 07 May 2014
Sumit Agarwal, Yongheng Deng, Chenxi Luo and Wenlan Qian
Georgetown University - Department of Finance, National University of Singapore, Business School and the School of Design and Environment, National University of Singapore (NUS) - Department of Real Estate and National University of Singapore - NUS Business School
Downloads 65 (221,773)

Abstract:

Financial Crisis, Condo Market, Default, Mortgages, Household Finance, Investors, Speculators, Subprime Mortgages

32.

Mortgage Default and Low Downpayment Loans: The Costs of Public Subsidy

NBER Working Paper No. w5184
Number of pages: 42 Posted: 21 Jul 2000
Yongheng Deng, John M. Quigley and Robert Van Order
National University of Singapore, Business School and the School of Design and Environment, University of California, Berkeley, College of Letters & Science, Department of Economics (Deceased) and Federal Home Loan Mortgage Corporation (FHLMC) - Housing Economics and Financial Research
Downloads 49 (316,198)
Citation 26

Abstract:

33.

Time Preferences, Mortgage Choice and Mortgage Default

Number of pages: 42 Posted: 11 Jun 2014 Last Revised: 14 Sep 2014
Sumit Agarwal, Yongheng Deng and Jia He
Georgetown University - Department of Finance, National University of Singapore, Business School and the School of Design and Environment and Nankai University
Downloads 42 (285,830)

Abstract:

Mortgage default, mortgage choice, heterogeneity, present-biased preference, dynamic inconsistency

34.

Pulling the Trigger: Default Option Exercise Over the Business Cycle

Number of pages: 45 Posted: 20 Sep 2014
Xudong An, Yongheng Deng and Stuart A. Gabriel
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and University of California, Los Angeles - Anderson School of Management
Downloads 27 (366,275)

Abstract:

35.

Land and House Price Measurement in China

NBER Working Paper No. w18403
Number of pages: 51 Posted: 22 Sep 2012
Yongheng Deng, Joseph Gyourko and Jing Wu
National University of Singapore, Business School and the School of Design and Environment, University of Pennsylvania - Real Estate Department and Tsinghua University - Institute of Real Estate Studies
Downloads 17 (425,888)
Citation 1

Abstract:

36.

Unobserved Heterogeneity in Models of Competing Mortgage Termination Risks

Downloads 17 (456,966)

Unobserved Heterogeneity in Models of Competing Mortgage Termination Risks

Real Estate Economics, Vol. 34, No. 2, pp. 243-273, Summer 2006
Number of pages: 31 Posted: 20 Nov 2006
John M. Clapp, Xudong An and Yongheng Deng
University of Connecticut - Department of Finance, Federal Reserve Banks - Federal Reserve Bank of Philadelphia and National University of Singapore, Business School and the School of Design and Environment
Downloads 17 (474,002)
Citation 14

Abstract:

Unobserved Heterogeneity in Models of Competing Mortgage Termination Risks

Real Estate Economics, Forthcoming
Posted: 25 Jan 2006 Last Revised: 30 Dec 2013
John M. Clapp, Yongheng Deng and Xudong An
University of Connecticut - Department of Finance, National University of Singapore, Business School and the School of Design and Environment and Federal Reserve Banks - Federal Reserve Bank of Philadelphia

Abstract:

37.

One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?

Downloads 12 (482,688)
Citation 1

One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?

NBER Working Paper No. w19974
Number of pages: 60 Posted: 19 Mar 2014
Yongheng Deng, Xin Liu and Shang-Jin Wei
National University of Singapore, Business School and the School of Design and Environment, National University of Singapore (NUS) - Department of Finance and Columbia Business School - Finance and Economics
Downloads 11 (508,598)
Citation 1

Abstract:

One Fundamental and Two Taxes: When Does a Tobin Tax Reduce Financial Price Volatility?

Number of pages: 76 Posted: 03 Nov 2014 Last Revised: 16 Jun 2017
Yongheng Deng, Xin Liu and Shang-Jin Wei
National University of Singapore, Business School and the School of Design and Environment, Research School of Finance, Actuarial Studies & Applied Statistics, CBE, Australian National University and Columbia Business School - Finance and Economics
Downloads 1 (568,590)
Citation 1

Abstract:

Tobin tax, institutional investors, cross-listed stocks

38.

Evaluating the Risk of Chinese Housing Markets: What We Know and What We Need to Know

NBER Working Paper No. w21346
Number of pages: 64 Posted: 13 Jul 2015
Jing Wu, Joseph Gyourko and Yongheng Deng
Tsinghua University - Institute of Real Estate Studies, University of Pennsylvania - Real Estate Department and National University of Singapore, Business School and the School of Design and Environment
Downloads 9 (446,660)

Abstract:

39.

Is There Evidence of a Real Estate Collateral Channel Effect on Listed Firm Investment in China?

NBER Working Paper No. w18762
Number of pages: 56 Posted: 02 Feb 2013
Jing Wu, Joseph Gyourko and Yongheng Deng
Tsinghua University - Institute of Real Estate Studies, University of Pennsylvania - Real Estate Department and National University of Singapore, Business School and the School of Design and Environment
Downloads 1 (520,314)

Abstract:

40.

Did Bubbles Migrate from the Stock to the Housing Market in China between 2005 and 2010?

Number of pages: 23 Posted: 04 Apr 2017
Yongheng Deng, Eric Girardin, Roselyne Joyeux and Shuping Shi
National University of Singapore, Business School and the School of Design and Environment, University Aix-Marseille 2 - GREQAM, Macquarie University - Department of Economics and Macquarie University
Downloads 0 (384,930)

Abstract:

41.

Default Option Exercise Over the Financial Crisis and Beyond

Number of pages: 59 Posted: 15 Apr 2016
Xudong An, Yongheng Deng and Stuart A. Gabriel
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment and University of California, Los Angeles - Anderson School of Management
Downloads 0 (369,762)

Abstract:

Mortgage default; option exercise; negative equity beta; HAMP

42.

The Role of Debt Covenants in the Investment Grade Bond Market - The REIT Experiment

Journal of Real Estate Finance and Economics, Vol. 52, No. 4, 2016
Posted: 14 Apr 2016
Yongheng Deng, Erik Devos, Shofiqur Rahman and Desmond Tsang
National University of Singapore, Business School and the School of Design and Environment, University of Texas at El Paso - College of Business Administration - Department of Economics and Finance, University of Texas at El Paso and McGill University - Desautels Faculty of Management

Abstract:

Debt covenants; Investment grade bond; REIT

43.

Fundamentals and the Volatility of Real Estate Prices in China: A Sequential Modelling Strategy

HKIMR Working Paper No.22/2015
Number of pages: 37 Posted: 13 Nov 2015
Yongheng Deng, Eric Girardin and Roselyne Joyeux
National University of Singapore, Business School and the School of Design and Environment, University Aix-Marseille 2 - GREQAM and Macquarie University
Downloads 0 (250,345)

Abstract:

44.

Intercity Information Diffusion and Price Discovery in Housing Markets: Evidence from Google Searches

Journal of Real Estate Finance and Economics, Vol. 50, No. 3, 2015
Posted: 28 Mar 2015
Jing Wu and Yongheng Deng
Tsinghua University - Institute of Real Estate Studies and National University of Singapore, Business School and the School of Design and Environment

Abstract:

Information diffusion; Price discovery; House price; Google searches

45.

House Price Index Construction in the Nascent Housing Market: The Case of China

Journal of Real Estate Finance and Economics, Vol. 48, No. 3, 2014
Posted: 25 Mar 2014
Jing Wu, Yongheng Deng and Hongyu Liu
Tsinghua University - Institute of Real Estate Studies, National University of Singapore, Business School and the School of Design and Environment and Tsinghua University - Institute of Real Estate Studies

Abstract:

House price index; Hedonic method; Quality change; Nascent housing market

46.

Local Traits and Securitized Commercial Mortgage Default

Journal of Real Estate Finance and Economics, Vol. 47, No. 4, 2013
Posted: 15 Nov 2013
Xudong An, Yongheng Deng, Joseph Nichols and Anthony B. Sanders
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, National University of Singapore, Business School and the School of Design and Environment, Board of Governors of the Federal Reserve System and George Mason University - School of Business

Abstract:

Default risk; CMBS loan; Local trait; Hazard model

47.

Commercial Mortgage Workout Strategy and Conditional Default Probability: Evidence from Special Serviced CMBS Loans

Journal of Real Estate Finance and Economics, Vol. 46, No. 4, 2013
Posted: 21 Mar 2013
Jun Chen and Yongheng Deng
Moody's Corporation - Moody’s Analytics and National University of Singapore, Business School and the School of Design and Environment

Abstract:

Default risk, CMBS loan, Special service, Workout strategy, Hazard model, Logit model

48.

Omitted Mobility Characteristics and Property Market Dynamics: Application to Mortgage Termination

Journal of Real Estate Finance and Economics, Vol. 41, No. 3, 2010
Posted: 26 May 2010
Xudong An, John M. Clapp and Yongheng Deng
Federal Reserve Banks - Federal Reserve Bank of Philadelphia, University of Connecticut - Department of Finance and National University of Singapore, Business School and the School of Design and Environment

Abstract:

Housing Market, Mobility, Mortgage Termination, Multinomial Logit Model

49.

Correlation and Volatility Dynamics in REIT Returns: Performance and Portfolio Considerations

Posted: 12 Apr 2010
Peng Fei, Letian Ding and Yongheng Deng
University of Southern California, University of Southern California and National University of Singapore, Business School and the School of Design and Environment

Abstract:

Dynamic Conditional Correlation, REIT returns, Real Estate, Diversification

50.

Is the Mean Return of Hotel Real Estate Stocks Apt to Overreact to Past Performance?

Journal of Real Estate Finance and Economics, Vol. 40, No. 4, 2010
Posted: 27 Feb 2010
Minye Zhang and Yongheng Deng
California State Polytechnic University, Pomona and National University of Singapore, Business School and the School of Design and Environment

Abstract:

Hotel, Stock return pattern, Overreact

51.

An Early Assessment of Residential Mortgage Performance in China

Journal of Real Estate Finance and Economics, Vol. 31, No. 2
Posted: 14 Jan 2005
Della Zheng, Yongheng Deng and Changfeng Ling
Independent, National University of Singapore, Business School and the School of Design and Environment and Tsinghua University

Abstract:

Chinese Mortgage Market, Prepayment and Default, Empirical Hazard Model, Econometric Analysis

52.

A Proportional Hazards Model of Commercial Mortgage Default with Originator Bias

Journal of Real Estate Finance & Economics, Vol. 27, No. 1
Posted: 04 Feb 2003
Brian A. Ciochetti, Rui Yao, Yongheng Deng, Gail Lee and James D. Shilling
Independent, Baruch College - Department of Economics and Finance, National University of Singapore, Business School and the School of Design and Environment, Credit Suisse First Boston and DePaul University

Abstract:

mortgages, asset pricing, bankruptcy, liquidation, prepayment, default

53.

Racial Differences in Homeownership: The Effect of Residential Location

Regional Science and Urban Economics, Forthcoming
Posted: 22 Nov 2002
Yongheng Deng, Stephen L. Ross and Susan M. Wachter
National University of Singapore, Business School and the School of Design and Environment, University of Connecticut - Department of Economics and University of Pennsylvania - Wharton School, Department of Real Estate

Abstract:

Homeownership, Residential Location, Race, Credit Constraints, Equity Risk

54.

Optimal Put Exercise: An Empirical Examination of Conditions for Mortgage Foreclosure

Journal of Real Estate Finance & Economics, Forthcoming
Posted: 15 Jun 2002
Brent W. Ambrose, Yongheng Deng and Charles A. Capone Jr.
Pennsylvania State University, National University of Singapore, Business School and the School of Design and Environment and JPMorgan Chase

Abstract:

mortgage default, loss severity, foreclosure

55.

A Dynamic Analysis of Fixed- and Adjustable-Rate Mortgage Terminations

Journal of Real Estate Finance & Economics, Vol. 24, No. 1 & 2
Posted: 20 Apr 2002
Charles A. Calhoun and Yongheng Deng
Calhoun Consulting and National University of Singapore, Business School and the School of Design and Environment

Abstract:

default, prepayment, option values, event history models, conditional probability, time-varying logit

56.

Mortgage Termination: An Empirical Hazard Model with Stochastic Term Structure

J. OF REAL ESTATE FINANCE AND ECONOMICS
Posted: 19 Apr 1996
Yongheng Deng
National University of Singapore, Business School and the School of Design and Environment

Abstract:

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