. However, theory does not tell us a lot about the economic rationale for relationship lending in the context of multiple bank …

This paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …. The market interaction of young credit-constrained households with older or richer unconstrained households generates the … following results. (1) Current income of young credit-constrainded households affects housing prices independentlyof aggregate …

In this paper an empirical model is developed where the collective household model is used as a basic framework to … describe the time allocation problem. The collective model views household behavior as the outcome of maximizing a household … the main accent still lies on the development of theory. The novelty of this paper is that we empirically estimate the two …

analysis of household behavior utilizes a modified version of Gary Becker's model of the household as a combined producer-consumer. …

' liquidity constraints. We also demonstrate that increasing the rate of inflation can be welfare improving when credit rationing …

This paper addresses the credit channel in Germany by using aggregate data. We present a stylized model of the banking …. Evidence in support of the credit channel can be reported. …

the importance of the interest rate and credit channels on business fixed investment in Germany. We have at our disposal … measure of creditworthiness, we find that credit constraints are important for a subset of firms. Sortings by firm size or …