Titlebook: Dynamic Macroeconomic Models in Emerging Market Economies; DSGE Modelling with Daniel Lukui Jia Book 2020 The Editor(s) (if applicable) an

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The Basic Model gives the preliminary attempt to model household heterogeneities in an RBC/DSGE framework. In the first section, we demonstrate the theoretical framework of this model and derive the corresponding mathematical expressions. The general equilibrium and the steady-state condition are calculated after

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The Advanced Modeland rural household groups: urban households are divided into lenders and borrowers. Under such an assumption, urban lenders own the capital and lend to other urban households, the urban household borrowers. Both household borrowers and lenders possess housing property, which is explicitly introduce

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