Investigating how macroprudential policies, in particular, VaR-type constraints affect aggregate investment, growth and tail risk, via a macro-finance model with heterogeneous investors.

This paper looks into the heterogeneous transmission of monetary policy to households’ debt balance.

Developing a DSGE model with heterogeneous investors facing financial frictions to study capital reallocation and misallocation.

We extend the heterogenous agent models in macroeconomics to consider recursive preferences and asset pricing in continuous time framework.

This paper highlights the role of the equity financing constraints in the transmission of monetary policy.

This paper studies a general equilibrium model with heterogeneity in both risk aversion and beliefs about the expected growth rate of the aggregate endowment.