Showing 1 - 10 of 33
Persistent link: https://www.econbiz.de/10001582503
Persistent link: https://www.econbiz.de/10001770512
Persistent link: https://www.econbiz.de/10002837495
Calibrated models of the business cycle typically assume a certain frequency at which economic agents take decisions. In this paper I show that the local stability properties of dynamic stochastic general equilibrium macro models may depend on the length of a period in the model economy. This...
Persistent link: https://www.econbiz.de/10009728989
Persistent link: https://www.econbiz.de/10001973985
Persistent link: https://www.econbiz.de/10001712761
Persistent link: https://www.econbiz.de/10003128393
This paper quantifies the extent of heterogeneity in consumption responses to changes in real interest rates and house prices in the four largest economies in the euro area: France, Germany, Italy, and Spain. We first calibrate a life-cycle incomplete-markets model with a liquid financial asset...
Persistent link: https://www.econbiz.de/10012898763
We provide a model with endogenous portfolios of secured and unsecured household debt. Secured debt is collateralized by owner-occupied housing whereas unsecured debt can be discharged according to bankruptcy regulations. We show that the calibrated model matches important quantitative...
Persistent link: https://www.econbiz.de/10013126139
Persistent link: https://www.econbiz.de/10003994182