The current COVID-19 pandemic has attracted significant attention from epidemiologists and economists alike. This differs from the 1918-19 Spanish Influenza pandemic, when academic economists hardly paid attention to its economic features, despite its very high mortality toll. We examine the...

The current COVID-19 pandemic has attracted significant attention from epidemiologists and economists alike. This differs from the 1918-19 Spanish Influenza pandemic, when academic economists hardly paid attention to its economic features, despite its very high mortality toll. We examine the...

This paper presents a DSGE model with residential investment and credit-constrained households estimated with US data over the period 1980Q1-2008Q4. In order to better understand speculative movements of house prices, we model land as an exhaustible resource, implying that house prices have...

This paper develops a DSGE model for an open economy and estimates it on euro area data using Bayesian estimation techniques. The model features nominal and real frictions, as well as financial frictions in the form of liquidity constrained households. The model incorporates active monetary and...

This paper explores the effects of discretionary fiscal policy in a DSGE model that explicitly models housing investment and allows for credit constrained households along the lines of the financial accelerator literature.The presence of credit constrained households raises the marginal...