AN AGGREGATE ECONOMY WITH DIFFERENT SIZE HOUSES
AN AGGREGATE ECONOMY WITH DIFFERENT SIZE HOUSES
复制标题
不同规模房屋的综合经济
DOI：
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发表时间：
2008
期刊：
影响因子：
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通讯作者：
Virginia Sánchez
中科院分区：
文献类型：
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作者：
José;Virginia Sánchez
我们建立了一个包含不同规模房屋和流动资产的综合模型。典型的家庭出生，受到特殊收入风险的影响，出于生命周期原因和住房原因而储蓄。通常情况下，这些家庭的一部分，在积累了一些资产后，支付首付款，购买一套小的、入门级的房子或无限大的房子。随着时间的推移，一些家庭升级到更大更好的房子。有房的家庭也可能最终降至无房甚至无房，而无房的房主可能会出售。我们的规范试图复制现代总量经济的一些重要特征：收入、住房和非住房财富的分配，以及一些宏观经济总量，包括抵押贷款发行部门的特征。
We build an aggregate model with difierent size houses and liquid assets. Typical households are born, are subject to idiosyncratic earnings risk and save for both life cycle reasons and housing reasons. Typically, a subset of these households, after accumulating some assets, put a down payment and buy a small, starter’s, house or ∞at. As time passes, some households upgrade to a larger and nicer house. Households with houses may also eventually downgrade to a ∞at or even to no house and ∞at owners may sell. Our speciflcation attempts to replicate some important features of modern aggregate economies: The distribution of earnings and of housing and non-housing wealth as well as some macroeconomic aggregates, including features of the mortgage issuing sector.