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During a global shock two forces act upon international remittances in opposite directions: income losses among … migrants may reduce their ability to send remittances and, at the same time, migrants' concern for their family's wellbeing may … prompt them to send more remittances back home. Which of these drivers prevail is an empirical matter. We assemble quarterly …
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Climate change causes natural disasters to occur at higher frequency and increased severity. Using a unique dataset on … difference-in-differences estimation with banks being allocated to the treatment and control group based on the region of their …
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monetary policy shock depends on the degree of economic regulation in different markets. In particular, financial (product …
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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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