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Home mortgage defaults exclude defaulting households from the housing market and tighten capital constraints on lenders. Both effects push down home prices and create a potential role for...
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Cross-state analysis of data on wages, prices, and the unemployment rate suggests that a tight labor market is...
When a financial crisis hits, countries with a high debt-to-GDP ratio are less likely to pursue expansionary...
County-level data on U.S. stock market holdings suggest that rising share prices induce consumer spending, which...