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Web Archive Capture PDF (241.2 KB).pdf

house_portfolio.pdf

Preview of Web Archive Capture PDF (241.2 kB)

🔗 Source: web.archive.org

📊 Size: 235 KB

📄 Pages: 41 pages

⬇️ Downloads: 74

Summary

A business cycle model is constructed with agents differing in age, income, and wealth, where housing provides shelter services and serves as collateral for loans. The model is consistent with several facts, such as the life-cycle pattern of housing-to-wealth ratios and the larger degree of concentration for non-housing wealth. Relaxing the collateral constraint does not impact the business cycle dynamics for the entire economy but alters the behavior of residential and business investment for the younger and poorer fraction of the population. The model matches the life-cycle pattern of households' portfolios regarding housing and equity and is consistent with housing-to-net-worth ratios being larger for the poor than for the wealthy.

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Description

A business cycle model is constructed with agents differing in age, income, and wealth, where housing provides shelter services and serves as collateral for...

Technical Information

File Format: PDF
File Size: 235 KB
Pages: 41
Language: EN
Total Downloads: 74
Last Updated: 1 month ago

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