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Booms and busts in house prices explained by constraints in housing supply
Bulusu, Narayan; Duarte, Jefferson; Vergara-Alert, Carles - 2013
in supply constraints and determinants of housing demand. Our empirical analysis shows that supply constraints play an …We study the importance of supply constraints in explaining the heterogeneity in house price cycles across geographies … in the United States. Comparing the equilibrium house price generated with and without supply constraints in a …
Persistent link: https://www.econbiz.de/10009751696
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Globalization and inflation : the role of China
Côté, Denise (contributor); De Resende, Carlos (contributor) - 2008
In this paper, we develop a theoretical model which identifies four channelsimport prices, competition with domestic suppliers and workers, and commodity pricesthrough which priceand wage-setting conditions in country j may affect inflation in country i. We estimate a dynamic inflation equation...
Persistent link: https://www.econbiz.de/10003773053
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Price level targeting in a small open economy with financial frictions : welfare analysis
Dib, Ali (contributor); Mendicino, Caterina (contributor);  … - 2008
How important are the benefits of low price-level uncertainty? This paper explores the desirability of price-level path targeting in an estimated DSGE model fit to Canadian data. The policy implications are based on social welfare evaluations. Compared to the historical inflation targeting rule,...
Persistent link: https://www.econbiz.de/10003775730
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Information flows and aggregate persistence
Kryvtsov, Oleksiy - 2009
Models with imperfect information that generate persistent monetary nonneutrality predominantly rely on assumptions leading to substantial heterogeneity of information across price-setters. This paper develops a quantitative general equilibrium model in which the degree of heterogeneity of...
Persistent link: https://www.econbiz.de/10003823147
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Corporate balance sheets in developed economies : implications for investment
Côté, Denise (contributor);  … - 2007
In this paper, the authors examine the aggregate national balance-sheets of non-financial corporations in Australia and the G7 countries with a view to assessing both their financial structure and their financial position. More importantly, the authors investigate whether the financial position...
Persistent link: https://www.econbiz.de/10003462971
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Technology shocks and business cycles : the role of processing stages and nominal rigidities
Phaneuf, Louis (contributor); Rebei, Nooman (contributor) - 2007
This paper develops and estimates a dynamic general equilibrium model that realistically accounts for an input-output linkage between firms operating at different stages of processing. Firms face technological change which is specific to their processing stage and charge new prices according to...
Persistent link: https://www.econbiz.de/10003463664
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Housing market cycles and duration dependence in the United States and Canada
Cunningham, Rose M. (contributor); Kolet, Ilan (contributor) - 2007
Housing wealth is a large component of total wealth and plays an important role in aggregate business cycles. In this paper, we explore data on real house price cycles at the aggregate level and city level for the United States and Canada. Using a panel of 137 cities, we examine the duration,...
Persistent link: https://www.econbiz.de/10003463678
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Capital requirement and financial frictions in banking : macroeconomic implications
Dib, Ali - 2010
The author develops a dynamic stochastic general-equilibrium model with an active banking sector, a financial accelerator, and financial frictions in the interbank and bank capital markets. He investigates the importance of banking sector frictions on business cycle fluctuations and assesses the...
Persistent link: https://www.econbiz.de/10008695475
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Banks, credit market frictions, and business cycles
Dib, Ali - 2010
The author proposes a micro-founded framework that incorporates an active banking sector into a dynamic stochastic general-equilibrium model with a financial accelerator. He evaluates the role of the banking sector in the transmission and propagation of the real effects of aggregate shocks, and...
Persistent link: https://www.econbiz.de/10008695487
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Resurrecting the role of real money balance effects
Dorich, José - 2009
shock and the supply side effects of monetary policy. Second, the existence of real money balance effects causes higher …
Persistent link: https://www.econbiz.de/10003933293