The macroeconomic effects of housing wealth, housing finance, and limited risk sharing in general equilibrium
J Favilukis, SC Ludvigson… - Journal of Political …, 2017 - journals.uchicago.edu
This paper studies a quantitative general equilibrium model of housing. The model has two
key elements not previously considered in existing quantitative macro studies of housing …
key elements not previously considered in existing quantitative macro studies of housing …
[PDF][PDF] Consumption, savings, and the distribution of permanent income
L Straub - Unpublished manuscript, Harvard University, 2019 - economics.yale.edu
Rising inequality in the permanent component of labor income, henceforth permanent
income, has been a major force behind the secular increase in US labor income inequality …
income, has been a major force behind the secular increase in US labor income inequality …
Doves for the rich, hawks for the poor? Distributional consequences of monetary policy
Abstract We build a New Keynesian business-cycle model with rich household
heterogeneity. A central feature is that matching frictions render labor-market risk …
heterogeneity. A central feature is that matching frictions render labor-market risk …
Socioeconomic status and macroeconomic expectations
We show that individuals' macroeconomic expectations are influenced by their
socioeconomic status (SES). People with higher income or higher education are more …
socioeconomic status (SES). People with higher income or higher education are more …
Investor sophistication and capital income inequality
Capital income inequality is large and growing fast, accounting for a significant portion of
total income inequality. We study its growth in a general equilibrium portfolio choice model …
total income inequality. We study its growth in a general equilibrium portfolio choice model …
[PDF][PDF] Asset prices and wealth inequality
M Gomez - Unpublished paper: Princeton, 2016 - red-files-public.s3.amazonaws.com
This paper uses recently available data on the top of the wealth distribution to study the
relationship between asset prices and wealth inequality. I document three stylized facts:(1) …
relationship between asset prices and wealth inequality. I document three stylized facts:(1) …
Investment barriers and labeling schemes for socially responsible investments
Given the increasing role of socially responsible investing (SRI), but still limited participation
of individual (ie small, retail) investors, the objective of this study is twofold:(i) We aim to …
of individual (ie small, retail) investors, the objective of this study is twofold:(i) We aim to …
Who wears the pants? Gender identity norms and intrahousehold financial decision‐making
D Ke - The Journal of Finance, 2021 - Wiley Online Library
Using microdata from US household surveys, I document that families with a financially
sophisticated husband are more likely to participate in the stock market than those with a …
sophisticated husband are more likely to participate in the stock market than those with a …
The negativity bias and perceived return distributions: Evidence from a pandemic
We hypothesize that the well-documented negativity bias, the psychological tendency to
asymmetrically emphasize negative over positive aspects, can help explain several financial …
asymmetrically emphasize negative over positive aspects, can help explain several financial …