Using Japanese household data, this study tests whether experiencing growth in land or house prices over a lifetime influences homeownership. The results show a positive effect on this relationship. To test the hypothesis, this study calculates the lifelong weighted average of real land or...

This study investigates how inflation expectations affect precautionary wealth by using Japanese household survey data.A key contribution of this study is that it confirms the prediction of the buffer stock (Carrroll, 1997) that, given the nominal interest rate, higher inflation expectations...

In Armenia, both external and domestic financing face challenges. Armenia's share of inward foreign direct investment (FDI) in private external financing has declined significantly over the past decade. Access to domestic finance in Armenia is also moderate and masks important disparities....

We present a macroeconomic model calibrated to match both microeconomic and macroeconomic evidence on household income dynamics. When the model is modified in a way that permits it to match empirical measures of wealth inequality in the U.S., we show that its predictions (unlike those of...

In Armenia, both external and domestic financing face challenges. Armenia’s share of inward foreign direct investment (FDI) in private external financing has declined significantly over the past decade. Access to domestic finance in Armenia is also moderate and masks important disparities....