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We analyze the contribution of credit spread, house and stock price shocks to GDP growth in the US based on a Bayesian VAR with time-varying parameters estimated over 1958-2012. Our main findings are: (i) The contribution of financial shocks to GDP growth fluctuates from about 20 percent in...
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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...
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The persistency of in-work povert y during the last de cades challenges the idea that employment is sufficient to … longitudinal data sources (NLSY79, NLSY97, and PSID) to establish a typo logy of employment pathways out of in-work poverty and … estimate how gender and race are asso ciated with each pathway. We identify five distinct pathways characterized by varying de …
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