期刊名称：Journal of Islamic Monetary Economics and Finance
印刷版ISSN：2460-6146
电子版ISSN：2460-6618
出版年度：2018
卷号：4
期号：1
页码：133-160
语种：English
出版社：Bank Indonesia
摘要：This paper theoretically analyzes two alternative modes of home financing.The first mode is the conventional housing loan and the other is Enhanced Musharakah Mutanaqisah (EMM) home financing.Our results reveal the EMM based setting is superior to the conventional housing loans in at least two aspects.These are the prevention of house price inflation in all phases of economic business cycle and the smoothening of real estate cycles.This means that,under the EMM,the risk of real estate bubble formation is subdued,which should prove to be welfare improving.
关键词：Musharakah Mutanaqisah;Islamic home financing;RE cycles;RE bubble
