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nonfarm payroll employment in the USA, the book emphasizes the role of aggregate demand shocks in causing the US economy to …
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We extend the canonical income process with persistent and transitory risk to shock distributions with left … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …
Persistent link: https://www.econbiz.de/10012182809
We extend the canonical income process with persistent and transitory risk to shock distributions with left … data from the United States. We find countercyclical variance and procyclical skewness of persistent shocks. All shock …
Persistent link: https://www.econbiz.de/10012215285
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macroeconomic shocks on economic inequality depend on the type of shock as well as on the measure of inequality considered …
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I explore whether time-series methods exploiting the long-run equilibrium properties of the housing market might have detected the disequilibrium in U.S. house prices which pre-dated the Great Recession as it was building up. Based on real-time data, I show that a VAR in levels identified as in...
Persistent link: https://www.econbiz.de/10011824294