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stock prices, consumption wealth effect, marginal propensity to consume, employment, wages, regional heterogeneity, time-varying risk premium, nominal rigidities, monetary policy
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consumption wealth effect, employment, marginal propensity to consume, monetary policy, nominal rigidities, regional heterogeneity, Stock Prices, Time-varying risk premium, wages
Belief Disagreements, Speculation, Financial Innovation, Savings, Interest Rate, Risk Premium, Customization, Stock Market Participation
belief disagreements, Customization, financial innovation, interest rate, Risk premium, Savings, Speculation, Stock Market Participation
JEL Classification: E22, E44, L26, G50 entrepreneurship, financial frictions, selection correction
entrepreneurship, financial frictions, selection correction
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Auctions, Bidding, Principal-agent, Strategic pricing, Directed search
housing market, order of transactions, search frictions, strategic complementarities