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mortality rates fell, populations began to soar. In most countries, this growth led to falling fertility rates. Although … fertility has fallen, the population continues to increase because of population momentum; it will eventually level off. In the …
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In most instances, the dynamic response of monetary and other policies to shocks is infrequent and lumpy. The same holds for the microeconomic response of some of the most important economic variables, such as investment, labor demand, and prices. We show that the standard practice of estimating...
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