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House prices and the distribution of wealth around the great recession

Cóndor, Richard; Moguel, Rodolfo Oviedo - 2023

This paper employs a calibrated model of the US economy to analyze the boom and bust in house prices as well as the shifts in the distribution of wealth during the years around the Great Recession. We replicate the dynamics of the housing market using shocks to aggregate income, the distribution...

Persistent link: https://www.econbiz.de/10014301444

The Housing Cycle : Rents versus Prices

Miles, William - 2023

cycles are in most cases more volatile than those for rents. In addition, rents across the different cities exhibit more … cyclical co-movement than home prices, as the latter’s cycles are more idiosyncratic for different regions of the US. In …

Persistent link: https://www.econbiz.de/10014349811

Housing Markets and the Heterogeneous Effects of Monetary Policy Across the Euro Area

Pica, Stefano - 2022

Monetary policy has heterogeneous effects across euro area countries. There are strong correlations between cross …-union New Keynesian model with rich household balance sheets. I calibrate the model to Spain and the euro area and show that the … consumption response in Spain is 2.4 times stronger than the euro area in the model relative to 2.5 in the data. My results reveal …

Persistent link: https://www.econbiz.de/10013292325

Home Biased Expectations and Macroeconomic Imbalances in a Monetary Union

Bonam, Dennis - 2017

Under monetary union, economic dynamics may diverge across countries due to regional inflation differentials and a pro-cyclical real interest rate channel, yet stability is generally ensured through endogenous adjustment of the real exchange rate. The speed of adjustment depends, inter alia, on...

Persistent link: https://www.econbiz.de/10012954705

Hard/Soft Monetary Unions and Blockchain Dynamics

Hegadekatti, Kartik - 2017

The Brexit issue has caused much concern regarding the future economic scenario of Europe in particular and the world in general. There are several reasons for Brexit. One of them is that the very nature of Monetary Unions is its rigidity. The 'one size fits all' yardstick won't apply to many...

Persistent link: https://www.econbiz.de/10012956687

Eurozone Creation and Possible Exits : Political, Institutional, Monetary and Economic Issues - An Analysis of the Key Stress Points of the Single Currency and Their Interactions

Masera, Rainer - 2019

the issues and the implications of potential Euroexit and Euro break up: it underlines that these processes would have a … prominent political dimension, as was the case for the creation of the euro. A complex-system network approach is adopted to … examine the principal vulnerabilities of the single currency without a state. The euro is at the center of an economic and …

Persistent link: https://www.econbiz.de/10012897801

Literature Review : Critique of European Monetary Union

Zipper, Christian - 2019

The paper summarizes the literature of the explanations of the European debt crisis. We mainly use literature which was published after the financial crisis 2007/08. Many papers were written about the topic, but there is no clear overview about the different EMU critique. This paper tries to...

Persistent link: https://www.econbiz.de/10012871080

Fiscal Stabilization in the United States : Lessons for Monetary Unions

Nikolov, Plamen - 2019

The debate about the use of fiscal instruments for macroeconomic stabilization has regained prominence in the aftermath of the Great Recession, and the experience of a monetary union equipped with fiscal shock absorbers, such as the United States, has often been a reference. This paper enhances...

Persistent link: https://www.econbiz.de/10012871658

Fiscal Stimulus in a Monetary Union : Evidence from Eurozone Regions

Coelho, Maria - 2016

aid and growth, I use shocks to the supply of federal transfers (European Commission commitments) of structural fund …

Persistent link: https://www.econbiz.de/10012978861

The Effectiveness of a Fiscal Transfer Mechanism in a Monetary Union : A DSGE Model for the Euro Area

Verstegen, Loes - 2016

In this paper, we incorporate a transfer mechanism into a DSGE model with a rich fiscal sector to assess the effectiveness of fiscal transfers for a monetary union, in particular for the Economic and Monetary Union. Using a heterogeneous setup, the model is estimated for the North and the South...

Persistent link: https://www.econbiz.de/10012988404