Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy

This paper analyzes and computes the equilibria of economies with large numbers of heterogeneous agents who have different asset trading technologies, preferences, and beliefs. We illustrate the value of our method by using it to evaluate the implications of these heterogeneities through several quantitative exercises.

MoreLess

Year of publication:	2014-07-14
Authors:	Chien, YiLi ; Cole, Harold L. ; Lustig, Hanno
Institutions:	Federal Reserve Bank of St. Louis
Subject:	asset pricing \| equilibrium survival \| heterogeneous beliefs \| heterogeneous preferences

More details

Extent:	application/pdf
Series:	Working Papers.
Type of publication:	Book / Working Paper
Notes:	The text is part of a series Working Papers Number 2014-14 46 pages
Classification:	D51 - Exchange and Production Economies ; D84 - Expectations; Speculations ; E21 - Consumption; Saving ; G1 - General Financial Markets
Source:	RePEc - Research Papers in Economics

Persistent link: https://www.econbiz.de/10010798470