Essays on Macroeconomics

摘要: This thesis consists of three essays on macroeconomics.“Inattentive Consumers in General Equilibrium” explores the effects heterogeneity planning propensity wealth inequality and asset prices. I consider a model where attentive agents plan their consumption, savings, or stock holdings period by period, while inattentive ones every other period. Inattentiveness affects through two different channels: it increases accumulation group via precautionary savings motive decreases negative price effects. When income is stochastic, consumers accumulate more wealth. In contrast, two-period portfolio choice with uncertain returns, infrequent revisions portfolios can produce opposite result: investors less wealth.“Monetary Regime Change Business Cycles” analyzes how changes monetary policy regimes influence business cycle small open economy. We estimate DSGE Swedish data, explicitly taking into account regime change 1993, from exchange rate targeting to inflation targeting. The results confirm that reacted primarily movements target zone, regime. Devaluation expectations were principal source volatility zone labor supply preference shocks are important.“Do Central Banks React House Prices?” asks whether U.S. Fed, Bank Japan England have house inflation. study responses these central banks estimating for each country credit constrained borrow using housing as collateral. main result did play separate role U.K. Japanese bank reaction functions last years, they not