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Asset Pricing with Countercyclical Household Consumption Risk
Constantinides, George M. - 2015
We present evidence that shocks to household consumption growth are negatively skewed, persistent, countercyclical, and drive asset prices. We construct a parsimonious model where heterogeneous households have recursive preferences. A single state variable drives the conditional cross-sectional...
Persistent link: https://www.econbiz.de/10013034190
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Does market incompleteness matter for asset prices?
Guvenen, Fatih; Kuruşçu, Burhanettin - In: Journal of the European Economic Association 4 (2006) 2/3, pp. 484-492
Persistent link: https://www.econbiz.de/10003353469
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Old folks and spoiled brats : why the baby boomers' saving crisis need not be that bad
Bütler, Monika; Harms, Philipp - 2001
Persistent link: https://www.econbiz.de/10001616006
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Old folks and spoiled brats : why the baby boomers' saving crisis need not be that bad
Bütler, Monika (contributor); Harms, Philipp (contributor) - 2001 - [Elektronische Ressource]
Persistent link: https://www.econbiz.de/10001586638
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The demographics of innovation and asset returns
Garleanu, Nicolae; Kogan, Leonid; Panageas, Stauros - 2009
Persistent link: https://www.econbiz.de/10003908887
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High discounts and high unemployment
Hall, Robert Ernest - 2014
Persistent link: https://www.econbiz.de/10010253995
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Asset Bubbles, Unemployment, and Financial Market Frictions
Hashimoto, Ken-Ichi - 2020
A tractable model with infinitely lived agents is constructed for the examination of bubbles and unemployment. It is … demonstrated that the presence of bubbles stimulates capital accumulation and reduces unemployment. The presence of bubbles also … changes the effects of government policies that target unemployment and welfare conditions in the labor market. The main …
Persistent link: https://www.econbiz.de/10012826419
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Asset Prices and Unemployment Fluctuations
Kehoe, Patrick - 2019
Recent critiques have demonstrated that existing attempts to account for the unemployment volatility puzzle of search … reproduces the observed fluctuations in unemployment because hiring a worker is a risky investment with long-duration surplus … benefit from creating new matches greatly drops, leading to a large decline in job vacancies and an increase in unemployment …
Persistent link: https://www.econbiz.de/10012857716
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Liquidity, Unemployment, and the Stock Market∗
Branch, William; Silva, Mario - 2022
Interest-rate spreads and the unemployment rate vary negatively with stock prices. Liquidity plays a role in a … negative shock to stocks decreases the liquidity value of equity and increases unemployment. A ``perfect storm'' of an increase … unemployment and low stock prices. Reliance on privately-issued assets heightens fragility …
Persistent link: https://www.econbiz.de/10013293014
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Asset Prices and Unemployment Fluctuations
Kehoe, Patrick J. - 2019
Recent critiques have demonstrated that existing attempts to account for the unemployment volatility puzzle of search … reproduces the observed fluctuations in unemployment because hiring a worker is a risky investment with long-duration surplus … benefit from creating new matches greatly drops, leading to a large decline in job vacancies and an increase in unemployment …
Persistent link: https://www.econbiz.de/10012480524