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NBER Macroeconomics Annual 199...
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1
Accounting for changes in the homeownership rate
Chambers, Matthew
;
Garriga, Carlos
;
Schlagenhauf, Don E.
-
2007
After three decades of being relatively constant, the homeownership rate increased over the 1994-2005 period to attain record highs. The objective of this paper is to account for the observed boom in ownership by examining the role played by changes in demographic factors and innovations in the...
Persistent link: https://www.econbiz.de/10010292289
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2
Equilibrium mortgage choice and housing tenure decisions with refinancing
Chambers, Matthew S.
;
Garriga, Carlos
;
Schlagenhauf, Don
-
2007
The last decade has brought about substantial mortgage innovation and increased refinancing. The objective of this paper is to understand the determinants and implications of mortgage choice in the context of a general equilibrium model with incomplete markets. The equilibrium characterization...
Persistent link: https://www.econbiz.de/10010292368
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3
Marx's theory of money and 21st-century macrodynamics
Young-Taft, Tai
-
2015
Marx's theory of money is critiqued relative to the advent of fiat and electronic currencies and the development of financial markets. Specific topics of concern include (1) today's identity of the money commodity, (2) possible heterogeneity of the money commodity, (3) the categories of land and...
Persistent link: https://www.econbiz.de/10011545301
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4
Post-Keynesian macroeconomics since the mid-1990s: Main developments
Hein, Eckhard
-
2016
In this paper the main developments in post-Keynesian macroeconomics since the mid- 1990s will be reviewed. For this purpose the main differences between heterodox economics in general, including post-Keynesian economics, and orthodox economics will be reiterated and an overview over the strands...
Persistent link: https://www.econbiz.de/10011565324
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5
Trade policy, income risk, and welfare
Krebs, Tom
;
Krishna, Pravin
;
Maloney, William
-
2004
This paper studies empirically the relationship between trade policy and individual income risk faced by workers. The analysis proceeds in three steps. First, longitudinal data on workers are used to estimate time-varying individual income risk parameters in various manufacturing sectors. The...
Persistent link: https://www.econbiz.de/10010318854
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6
A Critical Look at Measures of Macroeconomic Uncertainty
Kjellberg, David
;
Post, Erik
-
2007
This paper takes a critical look at available proxies of uncertainty. Two questions are adressed: (i) How do we evaluate proxies given that subjective uncertainty is inherently unobservable? (ii) Is there such a thing as a general macroeconomic uncertainty? Using correlations, some narrative...
Persistent link: https://www.econbiz.de/10010321570
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7
Quantitative easing and asset bubbles in a stock-flow consistent framework
Haas, Cameron
;
Young-Taft, Tai
-
2017
Ever since the Great Recession, central banks have supplemented their traditional policy tool of setting the short-term interest rate with massive buyouts of assets to extend lines of credit and jolt flagging demand. As with many new policies, there have been a range of reactions from...
Persistent link: https://www.econbiz.de/10011784687
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8
Incorporating Diagnostic Expectations into the New Keynesian Framework
L'Huillier, Jean-Paul
;
Singh, Sanjay R.
;
Yoo, Donghoon
-
2021
Diagnostic expectations constitute a realistic behavioral model of inference. This paper shows that this approach for expectation formation can be productively integrated into the New Keynesian framework. To this end, we start by offering a first technical treatment of diagnostic expectations in...
Persistent link: https://www.econbiz.de/10012655886
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9
An interview with Neil Wallace
Altig, David
;
Nosal, Ed
-
2013
A few years ago we sat down with Neil Wallace and had two lengthy, free-ranging conversations about his career and, generally speaking, his views on economics. What follows is a distillation of these conversations.
Persistent link: https://www.econbiz.de/10010352164
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10
Macroeconomic fluctuations in Europe: demand or supply, permanent or temporary?
Hartley, Peter R.
;
Joseph A. Whitt, Jr.
-
1997
We use generalized method of moments to estimate a rational expectations aggregate demand-aggregate supply macroeconomic model for five European economies. Our aim is to examine whether supply or demand shocks have predominated in the major European economies during the post-war era and whether...
Persistent link: https://www.econbiz.de/10010397376
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