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This paper is to analyze how housing prices affect the consumption of urban households in China based on their asset allocations. We first identify household types based on their liquid and illiquid assets allocations, and in particular, a group unique to China named poor non-hand-to-mouth...
Persistent link: https://www.econbiz.de/10014351997
In this paper we examine the effects of two types of information imperfections, robustness (RB) and finite information-processing capacity (called rational inattention or RI), on international consumption correlations in an otherwise standard small open economy model. We show that in the...
Persistent link: https://www.econbiz.de/10014187353
In this paper we examine the effects of model misspecification (robustness or RB) on international consumption correlations in two otherwise standard small open economy models: one with perfect state observation and the other with imperfect state observation. We show that in the presence of...
Persistent link: https://www.econbiz.de/10013072394
Persistent link: https://www.econbiz.de/10010220080
Persistent link: https://www.econbiz.de/10010423039
In this paper we examine the effects of two types of information imperfections, robustness (RB) and finite information-processing capacity (called rational inattention or RI), on international consumption correlations in an otherwise standard small open economy model. We show that in the...
Persistent link: https://www.econbiz.de/10008987675
Persistent link: https://www.econbiz.de/10008702376
Persistent link: https://www.econbiz.de/10011484578
Persistent link: https://www.econbiz.de/10011777050
Persistent link: https://www.econbiz.de/10010221571