Results 171 to 180 of about 632,036 (253)
Housing, Household Portfolio, and Intertemporal Elasticity of Substitution: Evidence from the Consumer Expenditure Survey [PDF]
This paper investigates whether the inclusion of housing in a household portfolio is important to the household’s intertemporal decision making. Households hold portfolios of assets rather than a Treasury bill and/or a stock index and make their spending
Fuad Hasanov
core
Banking with Inside Money: An Efficiency Analysis
Journal of Money, Credit and Banking, EarlyView.Abstract We show that banks do not decentralize the first best in a nominal Diamond–Dybvig economy with inside money. Furthermore, state‐contingent deposit contracts do not expand the consumption possibility set to include the first best either. Central banks can improve welfare but only for savers and only with unconventional monetary policy. Finally,
DAVID RIVERO +1 more
wiley +1 more source
Another Look at the (Ir)Relevance of Long‐Run Risks for Equity Risk Premia
Journal of Money, Credit and Banking, EarlyView.Abstract I investigate the empirical asset pricing implications of a three‐factor macro model that extends the baseline consumption model Consumption Capital Asset Pricing Model (CCAPM) by adding the innovations in expected long‐run consumption growth (consumption growth news) and expected long‐run consumption variance (variance news) as risk factors ...
PAULO MAIO
wiley +1 more source
Climate Regulation, Firm Emissions, and Green Takeoversa
Journal of Money, Credit and Banking, EarlyView.Abstract We show that an unexpected tightening of the EU Emissions Trading System led high‐emission‐intensity firms to cut emissions relative to low‐intensity peers within the same industry, without reducing output, thereby improving emission efficiency. Effects are stronger for power producers than for manufacturing firms.
OLIVIER DE JONGHE +3 more
wiley +1 more source
Aggregate Market Power: Measurement, Drivers, and Macroeconomic Effects
Journal of Economic Surveys, EarlyView.ABSTRACT This survey reviews the macroeconomic literature on market power, focusing on its measurement, determinants, and macroeconomic effects. It synthesizes evidence from concentration ratios, business dynamism indicators, and markup/markdown estimates, documenting a distinct change in trends since the 1980s, especially in the United States ...
Maria Alessandra Rossi
wiley +1 more source
The Evolution of Interest‐Rate Models: From the Yield Curve to the Swaption Cube
Journal of Economic Surveys, EarlyView.ABSTRACT Interest‐rate modelling is often taught as a catalogue of competing stochastic equations, obscuring why models were created and why modern sell‐side desks use several simultaneously. This survey reorganises the field around five layers of a pricing architecture: curve construction; arbitrage‐free dynamics; volatility‐smile representation ...
Xuan Feng +2 more
wiley +1 more source
Longevity, Health, and Housing Risk Management in Retirement
The Journal of Finance, EarlyView.ABSTRACT Annuities, long‐term care insurance, and reverse mortgages remain puzzlingly unpopular to manage post‐retirement longevity, health, and housing price risks. We use a flexible life‐cycle model structurally estimated with a unique stated‐preference survey experiment of Canadian households to understand why. Key factors include high risk aversion,
PIERRE‐CARL MICHAUD, PASCAL ST‐AMOUR
wiley +1 more source
Journal of Management Studies, EarlyView.Abstract Firms under regulatory threat often have a collective interest in influencing policy outcomes through market behaviour. However, when coordination is prohibited and collective benefits are non‐excludable, such efforts are constrained by coordination and outcome uncertainty.
Mirko H. Benischke, Ajay Bhaskarabhatla
wiley +1 more source
Property Rights Theory, Justice, and Reciprocity
Journal of Management Studies, EarlyView.Abstract What really happens when situations arise that were not anticipated in contracts? The phenomenon of quiet quitting is an example of behaviour that is legally within the bounds of the contract governing a relationship while also generating variance in performance.
Douglas A. Bosse, Robert A. Phillips
wiley +1 more source
Transactions, Preferences, and Cost Discounting
Frontiers in Psychology, 2011 Mike eOaksford, Stephen eJones
doaj +1 more source