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to monetary policy and labor supply. The first chapter deals with the problem of weak identification in the estimation of … focus shifts to the aggregation and estimation of labor supply elasticities. The second chapter develops an aggregation … procedure for the Frisch elasticity of labor supply. The exact size of this particular elasticity matters a lot when …
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This paper investigates the credit channel in Germany and the United Kingdom. The financial systems of these two countries show substantial structural differences, which leads one to expect that their real sectors respond differently to changes in monetary policy. To the extent that this is the...
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We challenge the assumption in the literature of constant housing supply elasticities across housing expansions. Using a time-varying parameter (TVP)-VAR model on monthly US data since the early 1990s, we find that the response of housing supply to an expansionary monetary policy shock relative...
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