In this paper, we develop a methodology assessing if office market risks and property prices in Central and Eastern European (CEE) cities have been accurately valuated. Using the evolution of Western European office real estate market as a benchmark, we are able to estimate predicted property...

This paper studies consumption and labor supply in a model where agents have partial insurance and face risk and initial heterogeneity in wages and preferences. Equilibrium allocations and variances and covariances of wages, hours and consumption are solved for analytically. We prove that all...