Reading group on Financial Markets

 

Before presenting, read these tips first.

 

Household finance

 

1.     Jan 22 (Moritz) Kurt Mitman Macroeconomic Effects of Bankruptcy and Foreclosure Policies

2.     Jan 29 Discussion of macro job market papers: Ottonello and Auclert

a.      What is the question?

b.     Be prepared to describe the setups in our usual way: agents, preferences, technology, equilibrium concept

c.      In what sense is the model successful at answering the question?

3.     Feb 5 (Eran) Kung Efficient Mortgage Design in an Equilibrium Model of Housing and Mortgage Markets

4.     Feb 12 (Alina) Head, Lloyd-Ellis and Stacey Neighborhoods, House Prices and Homeownership

 

Spacial growth

5.     Feb 19 (Gila) Desmet and Rossi-Hansberg Spatial Development

6.     Feb 26 (Alonso) Davis, Fisher, Whited?

 

Business cycles

7.     Mar 5 (Daniel) Kydland, Rupert and Sustek Housing Dynamics over the Business Cycle

8.     Mar 12 (Pavel) Guerrieri and Iacoviello

 

 

 

 

 

 

 

 

 

 

Part 1: Recent advances in modeling search frictions

 

Jan 24 (Diego) Incomplete risk sharing & random search

Krusell-Mukoyama-Rogerson-Sahin 2010

http://people.su.se/~pkrus/ref_pub/Labor-Market_Matching.pdf

1:30 pm - 2:30 pm NEED ROOM

 

Jan 31 (Moritz) Random search and asset markets

Lagos-Rocheteau 2011

http://www.jstor.org/stable/40263870

1:30 2:30 pm NEED ROOM

 

Feb 7 (Alonso) Asymmetric information about assets in exchange

Lester-Postlewaite-Wright 2012

http://restud.oxfordjournals.org/content/79/3/1209.full.pdf+html

 

Feb 14 (Pavel) Directed search & heterogeneous match quality

Menzio-Shi 2012

http://web-facstaff.sas.upenn.edu/~gmenzio/linkies/MS2.pdf

 

Part 2: Asset market applications of search models

 

Feb 21 (Ian) Federal funds market

Afonso-Lagos 2012:

https://sites.google.com/site/rl561a/FRBNY_SR_660.pdf

 

Feb 28 (Mike) Housing

Halkett-Pignatti 2013

http://www.halket.com/research/Halket_Pignatti_Search_and_Homeownership.pdf

 

Mar 7 (Huiyu) Mergers

David 2013

https://987a4c78-a-62cb3a1a-s-sites.googlegroups.com/site/joelmichaeldavid/mergers_121913.pdf?attachauth=ANoY7cq3RV6v2rpx0ZxG-B--FxpHEZk35VJ8_C-DX6NC-Z6_jkbTfWEuSusnrWKN4TKoldoke5ZYZHUQ-cD-tNz_d42ziPdjMU9IWHHEbuBrf6wW5GRyQ2I4d081lbroq5QgVBarG_jn9Fg8hD-KZPtYjZ4JgNbAlWcgndsuoz2eiQWDlOPJwcUqoMg0GaBu18A8skujhysSvWry-6Sxnf_f7iDp8yHwVpZyD0bNNYmGH5RDMfZdAeQ%3D&attredirects=0

 

Mar 14 (Gila) Banking

Williamson 2013

http://www.artsci.wustl.edu/~swilliam/papers/web%20page%20paper.pdf

 

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Background on competitive search

Galenianos-Kircher IER 2012

http://eprints.lse.ac.uk/29707/1/On_the_Game-theoretic_Foundations_of_Competitive_Search_Equilibrium_%28LSERO%29.pdf

 

Survey about Search Models

http://home.uchicago.edu/~shimer/wp/search-survey.pdf