Economics, Econometrics and Finance
4 years ago

Financial shocks drive economic fluctuations, housing sector plays leading role.

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SSRN Electronic Journal
Identification of Financial Factors in Economic Fluctuations
Francesco Furlanetto, Francesco Ravazzolo, Samad Sarferaz

Paper Summary

The study looked at different factors affecting the economy in the US. They found that financial shocks, especially related to housing, play a big role in causing changes in output, stock prices, and investment. These shocks don't have much impact on inflation. Financial factors are more important than other types of shocks in influencing the economy.

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