General equilibrium applied to financial and real estate markest, international finance, public policy, and central banking
- Real Estate Finance
- Regional and Urban Economics
Wisconsin School of Business
5259 Grainger Hall
975 University Avenue
Madison, WI 53706, U.S.A.
Work number: (608) 265-5322
General Equilibrium Theory Applied to Financial and Real Estate Markets (10)
Commercial Real Estate Development, Investments and Taxes . (2017)
We consider a two-stage general equilibrium model of commercial real estate (CRE) development in a multi jurisdictions economy with segmented markets. Local CRE assets produce consumption goods that are sold to households in the jurisdiction. ...
Cross-Border Mortgage Lending in the European Sovereign Debt Crisis . (2017)
We examine the role of funding cost and capital on bank incentives to rebalance mortgage loan portfolios towards other geographies in the context of the European sovereign crisis, a period when sovereign bond yields raised ...
Cross-listed Securities and Multiple Exchange Memberships (2017)
The previous literature on general equilibrium has assumed that all traders belong to a single market. However, traders often participate in more than one exchange to diversify their portfolios. Moreover, there is evidence thatthe security ...
Wages, local amenities and the rise of the multi-skilled city Annals of Regional Science (2014)
This paper examines a set of necessary and sufficient conditions under which equilibrium involves mixing multiple types of workers in cities. Multi-skilled cities emerge if workers gain more from labor complementarities than they lose if ...
Heterogeneous Tiebout Communities with Private Production and Anonymous Crowding Regional Science and Urban Economics (2013)
This paper provides a general equilibrium model where jurisdictions offer not only public goods, but also job opportunities. In a context of multiple types of consumers, labor complementarities, and anonymous crowding, heterogeneous populated communities form ...
Securities Market Theory: Possession, Repo and Rehypothecation Journal of Economic Theory (2012)
By introducing repo markets we understand how agents need to borrow issued securities before shorting them: (re)-hypothecation is at the heart of shorting. Non-negative amounts of securities in the box of an agent (amounts borrowed ...
The Political Economy of the European Economic and Monetary Union (2)
A Volatility-based Theory of Fiscal Union Desirability Journal of Public Economics (2014)
Heterogeneous countries may rationally choose to form a currency union first, and a fiscal union later. We find, and illustrate empirically for the EMU countries, reasonable volatility conditions under which this sequencing in the deepening ...
Did the Euro Change the Effect of Fundamentals on Growth and Uncertainty? B. E. Journal of Macroeconomics (2014)
We present empirical evidence on whether the introduction of the euro has changed the effect of economic fundamentals on the growth rates of euro countries' GDPpc and GDPpc volatility. We find that there is a ...
Rays of Research on Real Estate Development (Business Expert Press) (2016)
The process of real estate development in an urban landscape is multi-faceted and multidisciplinary in nature for a variety of reasons. Although there is often the misconception that real estate development is an endeavor pursued ...
Popular Writing (8)
Professor Jaime Luque’s “Big Event on Homelessness and Affordable Housing” a Success Wisconsin Real Estate Viewpoint Blog (2016)
On Friday, December 2 2016, Professor Jaime Luque hosted over 300 hundred students, alumni, faculty, and Madison residents in Grainger Hall’s Plenary Room at the Wisconsin School of Business for the first ever “Big Event on Homelessness ...
Subprime gets bad rap in ‘Big Short’ but is key to easing affordability crisis The Conversation (2016)
Anyone who’s dug into the 2008 financial crisis knows the role that bundling and selling subprime housing loans played in bringing the world to the brink of economic collapse – out-of-control behaviors well-depicted in the ...