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demand and house prices and reinforce agents' optimism (pessimism). Bayesian learning about house prices can endogenously …
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activity over the business cycle. Learning strengthens the role of collateral constraints in aggregate fluctuations. Under … heterogeneous learning rules, numerical simulations illustrate that bankruptcy on the part of borrowers arises sooner as they track …
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activity over the business cycle. Learning strengthens the role of collateral constraints in aggregate fluctuations. Under … heterogeneous learning rules, numerical simulations illustrate that bankruptcy on the part of borrowers arises sooner as they track …
Persistent link: https://www.econbiz.de/10012010519