We investigate the link between housing wealth concentration and the macroeconomic effects of a rise in domestic banks' exposure to sovereign securities. We build a general equilibrium model with housing and heterogeneous agents who differ in their investment opportunities. Banks, optimizing...

To what extent labor market institutions can explain homeownership rate differences over time and across countries? Using data from 19 countries over fifty years, I find a positive correlation between employment rigidities and homeownership, and a negative correlation with wage. I rationalize...