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Permanent and transitory dynamics in house prices and consumption : some implications for the real effects of the financial crisis

Bagliano, Fabio C.; Morana, Claudio - In: Applied financial economics 20 (2010) 1/3, pp. 151-170

In this article, a small-scale macroeconomic system is estimated in the framework of a common trends model, in order to explore the dynamic interactions between real house prices, consumption expenditure and output in the US and major European economies. The results point to important...

Persistent link: https://www.econbiz.de/10003935987

New insights on the US OIS spreads term structure during the recent financial turmoil

Morana, Claudio - In: Applied financial economics 24 (2014) 4/6, pp. 291-317

Persistent link: https://www.econbiz.de/10010399449

Was expansionary monetary policy feasible during the great contraction? : An examination of the gold standard constraint

Bordo, Michael D.; Choudhri, Ehsan U.; Schwartz, Anna … - In: Explorations in economic history : EEH 39 (2002) 1, pp. 1-28

Persistent link: https://www.econbiz.de/10001644262

Income uncertainty and consumer spending during the Great Depression

Greasley, David; Madsen, Jakob Brøchner; Oxley, Les - In: Explorations in economic history : EEH 38 (2001) 2, pp. 225-251

Persistent link: https://www.econbiz.de/10001572478

Myopic loss aversion, bond returns and the equity premium puzzle

Jagd, Philip; Madsen, Jakob Brøchner - In: Applied financial economics 19 (2009) 16/18, pp. 1383-1390

In an influential paper Bernatzi and Thaler (1995) (B&T) show that Myopic Loss Aversion (MLA) can explain the equity premium in the US over the period 1926 to 1990. However, bond returns, in their simulations, are based on coupons only. Allowing for capital gains on bonds in the simulations...

Persistent link: https://www.econbiz.de/10003886198