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Implications of heterogeneity in preferences, beliefs and asset trading technologies in an endowment economy
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - In: Review of economic dynamics 20 (2016), pp. 215-239
Persistent link: https://www.econbiz.de/10011635806
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A multiplier approach to understanding the macro implications of household finance
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - 2007
Persistent link: https://www.econbiz.de/10003587991
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A multiplier approach to understanding the macro implications of household finance
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - In: The review of economic studies 78 (2011) 1, pp. 199-234
Persistent link: https://www.econbiz.de/10009162036
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Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - 2014
Persistent link: https://www.econbiz.de/10010380069
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Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy
Chien, YiLi; Cole, Harold L.; Lustig, Hanno - 2014
Persistent link: https://www.econbiz.de/10010394652
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Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
Chien, YiLi - 2014
This paper extends the methodology developed in Chien, Cole and Lustig (2011 & 2012) (hereafter CCL2011 and CCL2012, respectively) to analyze and compute the equilibria of economies with heterogeneous agents who have different asset trading technologies and are subject to both aggregate and...
Persistent link: https://www.econbiz.de/10013050169
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Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
Chien, YiLi - 2014
This paper analyzes and computes the equilibria of economies with large numbers of heterogeneous agents who have different asset trading technologies, preferences, and beliefs. We illustrate the value of our method by using it to evaluate the implications of these heterogeneities through several...
Persistent link: https://www.econbiz.de/10013050832
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Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
Chien, YiLi - 2014
This paper analyzes and computes the equilibria of economies with large numbers of heterogeneous agents who have different asset trading technologies, preferences, and beliefs. We illustrate the value of our method by using it to evaluate the implications of these heterogeneities through several...
Persistent link: https://www.econbiz.de/10013054406
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A Multiplier Approach to Understanding the Macro Implications of Household Finance
Chien, YiLi - 2007
of wealth. We distinguish between passive traders who hold fixed portfolios of stocks and bonds, and active traders who … separately. We show that the fraction of total wealth held by active traders, not the fraction held by all participants, is … and the risk-free rate. The calibrated model reproduces the skewness and kurtosis of the wealth distribution in the data …
Persistent link: https://www.econbiz.de/10012465060
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Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy
Chien, YiLi - 2014
This paper extends the methodology developed in Chien, Cole and Lustig (2011 & 2012) (hereafter CCL2011 and CCL2012, respectively) to analyze and compute the equilibria of economies with heterogeneous agents who have different asset trading technologies and are subject to both aggregate and...
Persistent link: https://www.econbiz.de/10012458339