Showing 1 - 10 of 183
We develop a dynamic general equilibrium model for the positive and normative analysis of macroprudential policies. Optimizing financial intermediaries allocate their scarce net worth together with funds raised from saving households across two lending activities, mortgage and corporate lending....
Persistent link: https://www.econbiz.de/10015298365
This paper takes a financial market perspective in examining the relationship between oil prices, the US dollar and asset prices, and it exploits the heteroskedasticity for the identification of causality in a multifactor model. It finds a bidirectional causality between the US dollar and oil...
Persistent link: https://www.econbiz.de/10015301947
Persistent link: https://www.econbiz.de/10002050320
Persistent link: https://www.econbiz.de/10009754566
Persistent link: https://www.econbiz.de/10003329474
Persistent link: https://www.econbiz.de/10011743292
Persistent link: https://www.econbiz.de/10001674873
Persistent link: https://www.econbiz.de/10001724668
This model extends the keeping up with the Joneses (KUJ) model to incorporate the notion that positional concerns in consumption are best modelled with a reference dependence specification of preferences, as postulated by Tversky and Kahneman (1991) in the context of riskless choice. In line...
Persistent link: https://www.econbiz.de/10002817365
Well-functioning risk-sharing arrangements are essential for the shock absorbing capacity and resilience of an economy, even more so for countries in a monetary union where the single monetary policy is unable to address asymmetric shocks. The common shocks that euro area member states have been...
Persistent link: https://www.econbiz.de/10014082322