A Model of Money Non-Neutrality under Heterogeneous Beliefs

Rational Beliefs Money Non-Neutrality

Disagreeing about inflation and welfare effects of nominal and indexed bonds

Rational Beliefs Nominal Bonds Real Bonds Economic Welfare

Monetary Policy Uncertainty and Asset Returns

Policy Uncertainty Predictability Threshold VAR

Financial Integration with Heterogeneous Beliefs

Heterogeneous Beliefs Financial Integration Economic Welfare

Portfolio Adjustment Costs and Asset Price Volatility

Rational Beliefs Transaction Costs Asset Prices
Replication files

Wealth Dynamics and Asset Prices with Recursive Preferences and Heterogeneous Beliefs

Rational Beliefs Survival Recursive Preferences
Replication files

Financial Innovation and Asset Prices when Agents Disagree

Rational Beliefs Financial Innovation Financial Regulation Dodd-Frank MIFID II

Limited Market Participation, Housing, and Asset Prices

Limited Participation Housing
Replication files