Implications of heterogeneity in preferences, beliefs and asset trading technologies for the macroeconomy

YiLi Chien, Harold Cole and Hanno Lustig

No 2014-14, Working Papers from Federal Reserve Bank of St. Louis

Abstract: This paper analyzes and computes the equilibria of economies with large numbers of heterogeneous agents who have different asset trading technologies, preferences, and beliefs. We illustrate the value of our method by using it to evaluate the implications of these heterogeneities through several quantitative exercises.

Keywords: asset pricing; equilibrium survival; heterogeneous beliefs; heterogeneous preferences. (search for similar items in EconPapers)
JEL-codes: D51 D84 E21 G1 (search for similar items in EconPapers)
Pages: 46 pages
Date: 2014-07-14
New Economics Papers: this item is included in nep-dge and nep-mac
References: View references in EconPapers View complete reference list from CitEc
Citations:

Downloads: (external link)
https://s3.amazonaws.com/real.stlouisfed.org/wp/2014/2014-014.pdf Full text (application/pdf)

Related works:
Working Paper: Implications of Heterogeneity in Preferences, Beliefs and Asset Trading Technologies for the Macroeconomy (2014)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:fip:fedlwp:2014-014

Ordering information: This working paper can be ordered from

DOI: 10.20955/wp.2014.014

Access Statistics for this paper

More papers in Working Papers from Federal Reserve Bank of St. Louis Contact information at EDIRC.
Bibliographic data for series maintained by Scott St. Louis ().