Browsing Working Papers by Author "Huang, Kevin X.D."

Now showing items 1-8 of 8

    • Financial Intermediaries, Markets, and Growth' 
      Fecht, Falko; Huang, Kevin X.D.; Martin, Antoine (Vanderbilt University, 2007)
      We build a model in which financial intermediaries provide insurance to households against idiosyncratic liquidity shocks. Households can invest in financial markets directly if they pay a cost. In equilibrium, the ability ...
    • Increasing Returns and Unsynchronized Wage Adjustment in Sunspot Models of the Business Cycle 
      Huang, Kevin X.D.; Meng, Qinglai (Vanderbilt University, 2010)
      Abstract: A challenge facing the literature of equilibrium indeterminacy and sunspot-driven business cycle fluctuations based on increasing returns to scale in production is that the required degree of increasing returns ...
    • Is Forward-Looking Inflation Targeting Destabilizing? The Role of Policy's Response to Current Output under Endogenous Investment 
      Huang, Kevin X.D.; Meng, Qinglai (Vanderbilt University, 2007)
      In sticky price models with endogenous investment, virtually all monetary policy rules that set a nominal interest rate in response solely to future inflation induce real indeterminacy of equilibrium. Applying the ...
    • Learning, Adaptive Expectations, and Technology Shocks' 
      Huang, Kevin X.D.; Liu, Zheng; Zha, Tao (Vanderbilt University, 2008)
      This study explores theoretical and macroeconomic implications of the self-confirming equilibrium in a standard growth model. When rational expectations are replaced by adaptive expectations, we prove that the self-confirming ...
    • Overconfidence and Consumption over the Life Cycle' 
      Caliendo, Frank; Huang, Kevin X.D. (Vanderbilt University, 2007)
      Overconfidence is a widely documented phenomenon. In this paper, we study the implications of consumer overconfidence in a life-cycle consumption/saving model. Our main analytical result is a necessary and sufficient ...
    • Rationalizing Seven Consumption-Saving Puzzles in a Unified Framework' 
      Huang, Kevin X.D.; Caliendo, Frank (Vanderbilt University, 2007)
      Empirical evidence suggests that it may cost time, effort, and resources to properly implement a saving plan, though such cost may differ across individual consumers. We document seven facts on macroeconomic consumption ...
    • Syphilis Cycles 
      Aaland, David; Finoff, David; Huang, Kevin X.D. (Vanderbilt University, 2010)
      Abstract: Syphilis has re-emerged as a global public health issue. In lesser developed countries, millions of people are contracting the disease, which can be fatal without access to proper treatment. In developed countries, ...
    • Temptation and Self-Control: Some Evidence and Applications 
      Huang, Kevin X.D.; Liu, Zheng; Zhu, John Q. (Vanderbilt University, 2007)
      This paper studies the empirical relevance of temptation and self-control using household-level data from the Consumer Expenditure Survey. We construct an infinite-horizon consumption-savings model that allows, but does ...