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.
Heterogeneous Agents
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.
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.
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.