We characterize optimal state-dependent pricing rules under various forms of infrequent information. In all models … nature of infrequent information. In two benchmark cases with continuously available information, optimal pricing rules are … purely state-dependent. In contrast, in all environments with infrequent information, optimal pricing rules are both time …

This paper presents evidence that speculative bubbles can have sizeable effects on house prices, and on housing …

Housing demand reflects the household's simultaneous choice of neighborhood, whether to own or rent the dwelling, and … the quantity of housing services demanded. Existing literature emphasizes the final two factors, but overlooks the choice …

In a 1997 paper, Hansen and Jagannathan develop two pricing error measures for asset pricing models. The first measure … is the maximum pricing error on given test assets, and the second measure is the maximum pricing error over all possible … contingent claims. We develop a simulation-based Bayesian inference of the pricing error measures. Although linear time …

disinflation in a model with endogenous time-dependent pricing rules. Both the initial degree of price rigidity, calculated …