This chapter surveys the literature on housing in macroeconomics. We first collect facts on house prices and quantities in both the time series and the cross section of households and housing markets. We then present a theoretical model of frictional housing markets with heterogeneous agents...

The breakdown of short-term funding markets was a key feature of the global financial crisis of 2007/8. Combining insights from the literature on global games and network growth, we develop a simple model that sheds light on how network topology interacts with the funding structure of financial...

This paper explores the interaction between a credit crunch and the maturity of government debt, focusing on its impacts on an economy with heterogeneous households. We find that an increase in debt maturity helps softening the economic slump that follows a credit crisis. We show that,...