The thesis presents several theoretical models on the causes and consequences of income growth and uncertainty.Part I deals with international trade as a major source of aggregate productivity. It presents the Melitz (2003) model and develops an integrated model of intra-industry trade and...

We analyze monetary conditions in US asset markets — corporate equity, real estate, Treasury bond and corporate & foreign bond — from a market specific perspective, proposing the concept of market leverage. Market leverage measures the average leverage of all asset holders in a particular...