neutral technology shock compare in a marginal likelihood race. To that end we construct and estimate several competing small … different hypotheses that generate the empirically observed decline in worked hours after a positive technology shock. These …

shock is sluggish and peaks with delay; (ii) permanent shocks generate positive rather than negative savings on impact; and …

This paper studies whether bank ownership influenced lending behavior during the COVID-19 shock. It finds that, similar … to previous episodes of financial distress, foreign banks appear to have played a shock-transmitting role, as there was a … COVID-19 shock and the impact of lockdowns on economic activity, foreign banks were found to lend at a higher rate than …

documents per-capita income divergence during the period of post-shock recovery, with countries at the bottom of the income …