The Role of Equity Financing Constraints in the Transmission of Monetary Policy
This paper analyzes the transmission of monetary policy via financing constraint in equity market to firm investment and stock returns.
Reallocation and Intermediary
Building a DSGE model in continuous time featuring heterogeneous agents and multiple sectors, this paper demonstrates the real impact of financial frictions on the capital reallocation.
Beliefs Heterogeneity and the Equity Term Structure
This paper studies a general equilibrium model with heterogeneity in both risk aversion and beliefs about the expected growth rate of the aggregate endowment.
Frequency of Risk Matters: Implications from a Two-Sector Production Economy
I look into the impact of the frequency and persistence of risk, via a two-sector DSGE model in continuous time.
Huggett Meets Epstein-Zin in Continuous Time
We extend the heterogenous agent models in macroeconomics to consider recursive preferences and asset pricing in continuous time framework.