Land is a basic human need for place to live and earn living life. Population growth getting higher day by while land housing static so that increasing in price, this problem must be solved. The state carrying out national development also needs physical such as infrastructure facilities, roads, bridges, hospitals, dams others. In the realization of acquisition development, conflicts often occu...

This paper investigates macroeconomic effects of bank regulation in a continuoustime macro-finance framework with both bond-financing and bank-financing. Risky firms appreciate bank credit because banks are efficient at liquidating assets for troubled firms. However, risky firms must pay the risk premium for banks’ exposure to aggregate risks. Our framework captures the feature that the cost of...

How to design bank capital requirements when banks can misreport the value of their assets? We show that the answer depends critically on the existence of secondary markets for bank assets. Without secondary markets, capital requirements based on banks’reporting are more socially desirable than a fixed capital requirement if savings on costly bank capital are suffi ciently high. Yet with second...