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Aggregate Shocks and the Volatility of House Prices

Sanchez-Marcos, V.; Rios-Rull, J.V. - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10004977954

The role of debt and equity finance over the business cycle

Covas, Francisco; Denhaan, Wouter - Society for Economic Dynamics - SED - 2006

Net equity issuance occurs frequently and is quantitatively important for both small and large publicly traded firms. Moreover, we show that net equity and net debt issuance are positively correlated and both are procyclical for small firms. For large firms net equity issuance is neither...

Persistent link: https://www.econbiz.de/10005069231

Equilibrium EMployment in a Model of IMperfect Labour Market

Wasmer, Etienne; Garibaldi, Pietro - Society for Economic Dynamics - SED - 2004

rationalizes differences in employment rates: in the U.S., we find a market productivity premium of +30% and market frictions of …

Persistent link: https://www.econbiz.de/10005069583

Intertemporal disturbances

Primiceri, Giorgio; Schaumburg, Ernst; Tambalotti, Andrea - Society for Economic Dynamics - SED - 2006

.S. business cycle with a rich set of real and nominal frictions …

Persistent link: https://www.econbiz.de/10005051286

A Matching Model of the Housing Market: Searching for a Motivated Partner

Albrecht, James; Anderson, Axel - Society for Economic Dynamics - SED - 2004

rewards if they do not transact in the meantime. We characterize the equilibrium steady state matching pattern and compare … this to the constrained efficient matching pattern. We also characterize the joint distribution of price and time to sale …

Persistent link: https://www.econbiz.de/10004970343

Monetary Exchange with Multilateral Matching

Julien, Benoit; Kennes, John; King, Ian - Society for Economic Dynamics - SED - 2006

), and Lagos and Wright (2005) respectively. We Â…nd that the multilateral matching setting generates very simple and …

Persistent link: https://www.econbiz.de/10005069230

Counterfeit $$$

Quercioli, Elena; Smith, Lones - Society for Economic Dynamics - SED - 2006

This paper offers a novel positive theory of counterfeit money, in which the counterfeiters compete against both law enforcement and innocent individuals forced to verify their currency. Law enforcement efforts against counterfeiting can crowd out verification, and thus have perverse...

Persistent link: https://www.econbiz.de/10005069256

The Eeckhout Condition and the Subgame Perfect Implementation of Stable Matching

Suh, Sang-Chul; Wen, Quan - Society for Economic Dynamics - SED - 2006

We investigate an extensive form sequential matching game of perfect information. We show that the subgame perfect … equilibrium of the sequential matching game leads to the unique stable matching when the Eeckhout Condition (2000) for existence … of a unique stable matching holds, regardless of the sequence of agents. This result does not extend to preferences that …

Persistent link: https://www.econbiz.de/10005069297

Making Financial Markets: Contract Enforcement and the Emergence of Tradable Assets in Late Medieval Europe

Boerner, Lars; Ritschl, Albrecht - Society for Economic Dynamics - SED - 2006

implement this in the Lagos and Wright (2005) matching model of money demand, assuming that preference shocks follow a two …-state Markov chain. We derive conditions under which cash and credit in the anonymous matching market coexist. For fixed but suffi … use of credit reduces the money holdup in the matching market and thus leads to Pareto improvements …

Persistent link: https://www.econbiz.de/10005069311

Labor Market Dynamics under Long Term Wage Contracting

Rudanko, Leena - Society for Economic Dynamics - SED - 2005

Persistent link: https://www.econbiz.de/10005069388