Discussion of Kiyotaki & Moore 'Liquidity, Business Cycles, and Monetary Policy' Gerhard Illing ... A role for liquid assets in a RBC model motivated by real frictions ...
Non durable ( endowment each period) Durable: real estate A units. Entrepreneurs: ... must borrow entire investment (non durable good); but can hold real estate ...
Agenda Analisi critica delle aspettative razionali Teoria economica dell informazione ... finalit inefficienze dell economia non dipendono da rigidit ...
Managing The Leverage Cycle and What s Wrong with Macroeconomic Models John Geanakoplos * * Write Down Principal Crisis stage of leverage cycle always involves lots ...
Credit Booms and Lending Standards: Evidence from the Subprime Mortgage Market ... Similar findings for 'Jumbo loan' market. Is this the next problem market? ...
2. Equilibrium unemployment. Employment volatility represents 70% of total ... The nominal and real interest rates decline after a positive monetary shock in ...
Welfare effects of housing price appreciation in an economy with binding ... appreciation in the developed countries during last decade, particularly in US ...
Favorable economic conditions might justify extension of credit at less stringent terms ... variables controlling for economic conditions (including time and ...
If the denominator vanish, then the map is not defined in the whole plane and ... For this map in which the denominator vanish (or one of its inverse) can be ...
1. The views expressed in this presentation are those of the authors and do not ... Oxen' in Homer's Achaea. Florins' in 17th century Holland. 8. Why have money? ...
Choice of parameters to design experiments by running tests with only computers ... 'discount factor' : 0 1 end of the exchange rounds. storage. A time-step ...
Title: Diapositiva 1 Author: M. Soledad Gallardo G. Last modified by: Luis Felipe C spedes C. Created Date: 11/2/2006 6:14:37 PM Document presentation format