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Housing and debt over the life cycle and over the business cycle
Iacoviello, Matteo; Pavan, Marina - 2009
This paper describes an equilibrium life-cycle model of housing where nonconvex adjustment costs lead households to adjust their housing choice infrequently and by large amounts when they do so. In the cross-sectional dimension, the model matches the wealth distribution; the age profiles of...
Persistent link: https://www.econbiz.de/10003906135
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Housing and Debt Over the Life Cycle and Over the Business Cycle
Iacoviello, Matteo - 2012
We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age profiles of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and...
Persistent link: https://www.econbiz.de/10013113410
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Housing and Debt Over the Life Cycle and Over the Business Cycle
Iacoviello, Matteo - 2015
This paper describes an equilibrium life-cycle model of housing where non-convex adjustment costs lead households to adjust their housing choice infrequently and by large amounts when they do so. In the cross-sectional dimension, the model matches the wealth distribution; the age profiles of...
Persistent link: https://www.econbiz.de/10013038658
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Housing and Debt Over the Life Cycle and Over the Business Cycle
Iacoviello, Matteo; Pavan, Marina - Department of Economics, Boston College - 2009
We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age profiles of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and...
Persistent link: https://www.econbiz.de/10008500918
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Housing and Debt over the Life Cycle and over the Business Cycle
Iacoviello, Matteo; Pavan, Marina - Departament d'Economia, Universitat Jaume I - 2011
We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age pro?les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and...
Persistent link: https://www.econbiz.de/10010772990
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Housing and Debt over the Life Cycle and over the Business Cycle
Iacoviello, Matteo; Pavan, Marina - Departament d'Economia, Universitat Jaume I - 2011
We study housing and debt in a quantitative general equilibrium model. In the cross-section, the model matches the wealth distribution, the age pro?les of homeownership and mortgage debt, and the frequency of housing adjustment. In the time-series, the model matches the procyclicality and...
Persistent link: https://www.econbiz.de/10009371417
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Housing and debt over the life cycle and over the business cycle
Iacoviello, Matteo; Pavan, Marina - 2009
Persistent link: https://www.econbiz.de/10003894836
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Housing and debt over the life cycle and over the business cycle
Iacoviello, Matteo; Pavan, Marina - 2011
Persistent link: https://www.econbiz.de/10009577337
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Housing and debt over the life cycle and over the business cycle
Iacoviello, Matteo; Pavan, Marina - In: Journal of monetary economics 60 (2013) 2, pp. 221-238
Persistent link: https://www.econbiz.de/10009745160
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Expectation driven business cycles with limited enforcement
Walentin, Karl - 2009
We explore the implications of shocks to expected future productivity in a setting with limited enforcement of financial contracts. As in Lorenzoni andWalentin (2007) optimal financial contracts under limited enforcement imply that to obtain external finance firms have to post collateral in...
Persistent link: https://www.econbiz.de/10010320759