Asset Pricing and Housing Supply in a Production Economy
نویسندگان
چکیده
منابع مشابه
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where νt+1 is an i.i.d. standard normal process with mean zero, orthogonal to λt+1. In our benchmark calibration we set ρr = .96, br = .93 and σr = .03. The parameter values are close to the estimates of (1) we find using US National Income and Products Accounts Data. Panel A of table 1 shows regression estimates for ρr and br that are consistent across samples and data sources. In periods of h...
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ژورنال
عنوان ژورنال: The B.E. Journal of Macroeconomics
سال: 2011
ISSN: 1935-1690
DOI: 10.2202/1935-1690.1685