For overlapping-generations models with multiple assets and without labour, welfare assessments of equilibrium allocations depend on whether the certainty equivalents of the one-period-ahead marginal rates of return on assets that are held are larger or smaller than the population growth rate....

Unemployment leads to large and persistent income losses for workers. Higher unemployment in the labor market therefore has spillover effects on the housing market. This paper studies such spillover effects from both empirical and theoretical perspectives. Using data from the Current Population...