Showing 1 - 10 of 22
Persistent link: https://www.econbiz.de/10003714205
We explore the impact of mortgage securitization on the international diversification of macroeconomic risk. By making mortgage-related risks internationally tradeable, securitization contributes considerably to better international consumption risk sharing: we find that countries with the most...
Persistent link: https://www.econbiz.de/10003806732
Consumption risk sharing among U.S. federal states increases in booms and decreases in recessions. We find that small firms' access to credit markets plays an important role in explaining this stylized fact: business cycle fluctuations in aggregate risk sharing are more pronounced in states in...
Persistent link: https://www.econbiz.de/10003807913
Persistent link: https://www.econbiz.de/10003690320
Persistent link: https://www.econbiz.de/10003691169
Persistent link: https://www.econbiz.de/10009572456
Persistent link: https://www.econbiz.de/10009379756
Persistent link: https://www.econbiz.de/10009773727
Survey data on inflation expectations show that: (i) private sector forecasts and central bank forecasts are not fully aligned and (ii) private sector forecasters disagree about inflation expectations. To reconcile these two facts we introduce dispersed information in a New Keynesian model,...
Persistent link: https://www.econbiz.de/10011520661
Persistent link: https://www.econbiz.de/10009519800