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This paper examines whether effects of labor demand shocks on housing prices vary across time and space. Using data on 321 US metropolitan statistical areas, we estimate the medium- and long-run effects of increases in metropolitan statistical area-level employment and total labor income on...
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After recalling the quantitative relevance as of end-2019 of “new normal” ultra-low interest rates at world level, a brief discussion is offered of key areas of economic analysis and policy critically impacted by negative nominal interest rates. Specific reference is made to the following...
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Mexico's fiscal response to the pandemic has been modest compared to its peers, reflecting the authorities' desire to not issue new debt for spending. This approach, however, risks a more severe recession and a weaker economic recovery, with further costs in the future. Balancing the need for...
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This paper studies the macroeconomic implications of oil price shocks and the extant fuel subsidy regime for Nigeria … rate depreciates more in the short-run. Counterfactual simulations also reveal that fuel subsidy removal leads to higher …, this study cautions that a successful fuel subsidy reform must necessarily encompass the deployment of well-targeted safety …
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cross-sectional variation in banks' exposureto uncertainty and find that the size of thehaircut subsidy - the gap between …
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