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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
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Asset Price Booms and Monetary Policy
Detken, Carsten; Smets, Frank - 2021
The paper aims at deriving some stylised facts for financial, real, and monetary policy developments during asset price booms. We observe various macroeconomic variables in a pre-boom, boom and post-boom phase. Not all booms lead to large output losses. We analyse the differences between...
Persistent link: https://www.econbiz.de/10013319333
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Financial reckoning day fallout : surviving today's global depression
Bonner, William; Wiggin, Addison - 2009 - Rev. and updated 10. anniversary ed.
Persistent link: https://www.econbiz.de/10003843968
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Financial reckoning day : surviving the soft depression of the 21st century
Bonner, William; Wiggin, Addison - 2003
Persistent link: https://www.econbiz.de/10001783644
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Bubbly recessions
Biswas, Siddhartha; Hanson, Andrew; Phan, Toan - In: American economic journal : a journal of the American … 12 (2020) 4, pp. 33-70
Persistent link: https://www.econbiz.de/10012421512
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Thought viruses and asset prices
Kuhle, Wolfgang - In: The journal of behavioral finance : a publication of … 23 (2022) 2, pp. 123-131
Persistent link: https://www.econbiz.de/10013352985
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Chapter 12. Housing, Finance, and the Macroeconomy
Davis, Morris A.; Van Nieuwerburgh, Stijn - In: Handbook of regional and urban economics : volume 5, (pp. 753-811). 2015
In this chapter, we review and discuss the large body of research that has developed over the past 10-plus years that explores the interconnection of macroeconomics, finance, and housing. We focus on three major topics—housing and the business cycle, housing and portfolio choice, and housing...
Persistent link: https://www.econbiz.de/10014025303
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Speculative Bubbles and Financial Crisis
Wang, Pengfei - 2009
of financial bubbles depress the real economy? This paper addresses these questions by constructing an infinite …-horizon heterogeneous agent general equilibrium model with speculative bubbles. We characterize conditions under which storable goods …, regardless of their intrinsic values, can carry bubbles and agents are willing to invest in such bubbles despite their positive …
Persistent link: https://www.econbiz.de/10013158843
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Quantitative Easing and Asset Bubbles in a Stock-Flow Consistent Framework
Haas, Cameron - 2018
Economics with equations for quantitative easing and endogenous bubbles in a new model. By running the model under a variety of …
Persistent link: https://www.econbiz.de/10012930464
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Consumption in the Great Recession : The Financial Distress Channel
Athreya, Kartik - 2019
During the Great Recession, the collapse of consumption across the US varied greatly but systematically with house-price declines. Our message is that household financial health matters for understanding this relationship. Two facts are essential for our finding: (1) the decline in house prices...
Persistent link: https://www.econbiz.de/10012860804