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US business cycle dynamics at the zero lower bound

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the estimation severely distorts the analysis of the latest economic dynamics. …

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Monetary policy, housing, and collateral constraints

Franz, Thorsten - 2019

House-purchasing decisions and the possibility of existing homeowners to tap into their housing equity depend decisively on prevailing loan-to-value (LTV) ratios in mortgage markets with borrowing constrained households. Utilizing a smooth transition local projection (STLP) approach, I show that...