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An Estimated Search-Based Monetary DSGE Model with Liquid Capital
Monetary DSGE Model Liquid Capital
2015/9/18
In this note we extend the search-based monetary DSGE model studied in Aruoba and Schorfheide (2010) and introduce liquid capital claims. More specifically, buyers in the decentralized market can use ...
Search,Money and Capital:A Neoclassical Dichotomy
Search Money Capital Neoclassical Dichotomy
2015/9/18
Recent work has reduced the gap between search-based monetary theory and mainstream macroeconomics byincorporating into the search model some centralized markets as well as some decentralized markets ...
Monetary models that specify explicit frictions to generate money demand have beendeveloped over the last 20 years and have been used to address many questions. Inthis paper we investigate the short-r...
Momentum traders in the housing market: survey evidence and a search model
search model survey evidence
2015/7/23
This paper studies household beliefs during the recent US housing boom. The first part
presents evidence from the Michigan Survey of Consumers. To characterize the heterogeneity
in households’...