• Identification of Financial Factors in Economic Fluctuations 

      Furlanetto, Francesco; Ravazzolo, Francesco; Sarferaz, Samad (Working Papers;9/2014, Working paper, 2014)
      We estimate demand, supply, monetary, investment and financial shocks in a VAR identified with a minimum set of sign restrictions on US data. We find that financial shocks are major drivers of fluctuations in output, stock ...
    • Residential Investment and Recession Predictability 

      Aastveit, Knut Are; Anundsen, André K.; Herstad, Eyo I. (Working Papers;24/2017, Working paper, 2017)
      We assess the importance of residential investment in predicting economic recessions for an unbalanced panel of 12 OECD countries over the period 1960Q1-2014Q4. Our approach is to estimate various probit models with different ...
    • Salience of Debt and Homebuyers’ Credit Decisions 

      Agarwal, Sumit; Karapetyan, Artashes (Working Papers;21/2015, Working paper, 2015)
      We show how a regulatory disclosure of hidden debt can eliminate a large mispricing in housing. In a setting where homebuyers must combine several sources of debt, they are biased towards hidden loans, especially if they ...