The effect of wealth on consumption is an issue of long‐standing interest to economists.
Conventional wisdom suggests that fluctuations in household wealth have driven major …

This study analyzes the volatility impact of the Chicago Board Options Exchange Volatility
Index (VIX) on the global banking sector during the Global Financial Crisis (GFC), COVID …

Why are house prices in many advanced economies rising faster than incomes? Why isn't
land and location taught or seen as important in modern economics? What is the …

The role of real estate during the global financial and economic crisis has prompted efforts to
better incorporate housing and financial channels into macro models, improve housing …

While traditional finance focuses on the tools used to optimize return and minimize risk, this
book explains how psychology can affect our decisions more than financial theory. Covering …

The financial crisis showed, once again, that neglecting real estate booms can have
disastrous consequences. In this paper, we spell out the circumstances under which a more …

US households' debt skyrocketed between 2000 and 2007, and has been falling since. This
leveraging (and deleveraging) cycle cannot be accounted for by the relaxation, and …

In a contemporary context characterised by shifts in macroeconomic conditions and global
uncertainty, predicting the future behaviour of demanders is critical for management science …

Rising inequality reduced income growth for the bottom 95% of the US personal income
distribution beginning about 1980. To maintain stable debt to income, this group's …

We investigate appropriate banking and regulatory policies aimed at pushing the banking
sector to shift from speculative lending, the cause of asset bubbles and economic crises, to …