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are generally small, a positive technology shock tends to decrease inequality, and a shock that raises the inequality of …
Persistent link: https://www.econbiz.de/10012533402
We develop a structural VAR in which an occasionally-binding constraint generates censoring of one of the dependent variables. Once the censoring mechanism is triggered, we allow some of the coefficients for the remaining variables to change. We show that a necessary condition for a unique...
Persistent link: https://www.econbiz.de/10012496125
). We find that a conventional expansionary monetary policy shock reduces earnings inequality, in large part by lifting …
Persistent link: https://www.econbiz.de/10014486257