【ECON201316】

宏觀經濟學研討會

（總第145期）

【時間】2013年10月23日（周三）12：15－13：45

【地點】明商0202教室

【主講】馬嘯　中國人民大學經濟學院

【主題】 Housing and Debt over the Life Cycle and over the Business Cycle (written by Matteo Iacoviello and MarinaPavan, Journal of Monetary Economics, 2013)

【摘要】Housing and mortgage debt are studied in a quantitative general equilibrium model. The model matches wealth distribution, age profiles of homeownership and debt, and frequency of housing adjustment. Over the cycle, the model matches the cyclicality and volatility of housing investment, and the procyclicality of debt. Higher individual income risk and lower downpayments can explain the reduced volatility of housing investment, the reduced procyclicality of debt, and part of the reduced volatility of GDP. In an experiment that mimics the Great Recession, countercyclical financial conditions can account for large drops in housing activity and debt following large negative shocks.
　　　　【主持】陳彥斌 教授

人大宏觀經濟學研討會（Macro Workshop）旨在追蹤宏觀經濟學國際最新進展，倡導構建符合國情的動態優化模型，并使用計算機模擬研究經濟增長、收入分配和宏觀政策等中國宏觀經濟重大問題。

聯系人：陳小亮　　E_mail: chenxiaoliang2200@126.com

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