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My paper provides long-run evidence on the dynamic effects of supply and demand shocks on mineral commodity prices. I assemble and analyze a new data set of price and production levels of copper, lead, tin, and zinc from 1840 to 2010. Price fluctuations are primarily driven by demand rather than...
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macrofundamentals. In fact, estimates from identified monetary policy changes lead to a reversal of U.S. states’ ranking by credit …
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inscribed in Regulation Q on the transmission of federal funds rate changes to bank level credit growth using a historic bank … ceiling. Interaction terms with monetary policy suggest that the policy impact on bank level credit growth was non-linear at … deregulation and thus weakened the credit channel of monetary transmission since the early 1980s. …
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