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In this paper, I study how mortgage refinancing influences the interest rate pass-through to household budgets via fixed-rate mortgage contracts in Denmark. I develop a model based on a state-dependent process of household actions that endogenously determines household refinancing decisions as a...
Persistent link: https://www.econbiz.de/10012510137
''---risk brought on or magnified by inaction. We developed a scale measuring personal tendency for passive risk taking (PRT), validated …
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. In this setting, the smaller merchants gain access to the store traffic of the major retailer, in return for commission …
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We show how frictions and continuous transfers jointly affect equilibria in a model of matching in trading networks. Our model incorporates distortionary frictions such as transaction taxes, bargaining costs, and incomplete markets. When contracts are fully substitutable for firms, competitive...
Persistent link: https://www.econbiz.de/10012290311
This statistical study refines and updates Sharpe's empirical paper (1975, Financial Analysts Journal) on switching between US common stocks and cash equivalents. According to the original conclusion, profitable market timing relies on a representative portfolio manager who can correctly...
Persistent link: https://www.econbiz.de/10012611807
of a house and the real estate broker hired by the seller. The model is then used to calibrate the broker's commission … to reduce prices generates faster sales and hence improves social welfare, the usual commission rate of 6 percent exceeds … the buyer's and seller's brokers and the agencies that employ these realtors) split the commission, then a 6 percent …
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