Abstract Within the context of a financial accelerator model, we model time-varying uncertainty (i.e. risk shocks) through the use of a mixture normal model with time variation in the weights applied to the underlying distributions characterizing entrepreneur productivity. Specifically, we model...

Purpose: The purpose of this paper is twofold: first, the authors construct a country-specific time-varying private rental regulation index for 18 developed economies starting from 1973 to 2014. Second, the authors analyze the effects of their index on the housing rental markets across 18...

US fixed residential investment is one of the most periodic economic time series. A theory of housing cycles is analysed on the basis of the period of housing construction. Substantial lags between planning and completion phases of housing construction cause housing investment to respond...