Pricing Private Mortgage Insurance
讨论了评估私人抵押贷款保险价格涉及的问题，强调长期均衡竞争市场价格等于长期边际和平均成本，并指出评估当前保费需要更多关于止赎决定因素的实证信息。
Issues involved in an evaluation of the price of private mortgage insurance are discussed. Cost considerations are emphasized as long‐run equilibrium competitive market prices equal long‐run marginal and average cost. An empirical evaluation of current insurance premiums vis‐a‐vis competitive market norms requires more empirical information on the determinants of foreclosures, especially the links between micro and macro determinants. Option pricing models suggest other data comparisons that also may shed light on an evaluation of insurance premiums.