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This paper models the housing sector, mortgages and endogenous default in a DSGE setting with nominal and real rigidities. We use data for the period 1981-2006 to estimate our model using Bayesian techniques. We analyze how an increase in risk in the mortgage market raises the default rate and...
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This paper presents a dynamic theory of housing market fluctuations. It develops a life-cycle model where households …
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darzustellen. Neu aufgenommen bzw. erheblich verstärkt wurden die Entscheidung über Immobilieninvestitionen und die …
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