Essays on Money, Credit Constraints and Asset Prices
This thesis consists of three chapters which were written independently. Each chapter answers different questions. But they share a single target: improving the ability of flexible price models in explaining volatile asset price movements. The first chapter, ``segmented money market, credit constraint and asset prices'', is the first in the literature to integrate a segmented market with a credit constraint into a dynamic stochastic general equilibrium model...[Show more]
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