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two-country model without exchange rate driven expenditure switching, I analyze savings glut shocks and three drivers of … OECD economies since the mid 1990s. Housing drivers alone imply counterfactual interest rate dynamics. Savings glut shocks …
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China's urban household saving rate has increased markedly since the mid-1990s, accompanied by a dramatic increase in homeownership. Is there a causal link between those two phenomena? This paper takes advantage of a unique natural experiment in China, which reformed the nationwide...
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