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Optimal monetary policy in a monetary union with housing and credit market heterogeneity
Elstner, Steffen; Hristov, Nikolay; Hülsewig, Oliver; … - 2010
This paper develops a two-country DSGE model for a monetary union in which each country is populated by two types of households - savers and borrowers - and two types of production sectors - a consumption goods sector and a housing sector. Households trade nominal private debt in equilibrium,...
Persistent link: https://www.econbiz.de/10011389355
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International consumption risk sharing with incomplete goods and asset markets
Blank, Sven - 2009
Perfect consumption risk sharing requires both, frictionless goods as well as frictionless financial market integration …. This project aims at analyzing the consequences of both type of frictions for the allocation of risk across countries in a … consumption risk sharing depending on the nature of the underlying shock. …
Persistent link: https://www.econbiz.de/10011387161
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Research note on "International consumption risk sharing with incomplete goods and asset markets"
Blank, Sven - 2009
Perfect risk sharing requires both, frictionless goods as well as frictionless asset markets. To analyze the … consequences of both type of frictions for consumption risk sharing across countries, the model by Ghironi and Melitz (2005) is …
Persistent link: https://www.econbiz.de/10011387168
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International consumption risk sharing and monetary policy
Blank, Sven - 2009
Persistent link: https://www.econbiz.de/10011387171