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

1:30 pm - 2:30 pm NEED ROOM


Jan 31 (Moritz) Random search and asset markets

Lagos-Rocheteau 2011

1:30 2:30 pm NEED ROOM


Feb 7 (Alonso) Asymmetric information about assets in exchange

Lester-Postlewaite-Wright 2012


Feb 14 (Pavel) Directed search & heterogeneous match quality

Menzio-Shi 2012


Part 2: Asset market applications of search models


Feb 21 (Ian) Federal funds market

Afonso-Lagos 2012:


Feb 28 (Mike) Housing

Halkett-Pignatti 2013


Mar 7 (Huiyu) Mergers

David 2013


Mar 14 (Gila) Banking

Williamson 2013



Background on competitive search

Galenianos-Kircher IER 2012


Survey about Search Models