Housing wealth effects: The long view
We provide new time-varying estimates of the housing wealth effect back to the 1980s. We
use three identification strategies: ordinary least squares with a rich set of controls, the Saiz …
use three identification strategies: ordinary least squares with a rich set of controls, the Saiz …
Stock market wealth and the real economy: A local labor market approach
We provide evidence of the stock market consumption wealth effect by using a local labor
market analysis. An increase in local stock wealth driven by aggregate stock prices …
market analysis. An increase in local stock wealth driven by aggregate stock prices …
Immigration, innovation, and growth
We show a causal impact of immigration on innovation and dynamism in US counties. To
identify the causal impact of immigration, we use 130 years of detailed data on migrations …
identify the causal impact of immigration, we use 130 years of detailed data on migrations …
What Can Time‐Series Regressions Tell Us About Policy Counterfactuals?
We show that, in a general family of linearized structural macroeconomic models,
knowledge of the empirically estimable causal effects of contemporaneous and news shocks …
knowledge of the empirically estimable causal effects of contemporaneous and news shocks …
The real effects of banks' corporate credit supply: A literature review
In this article, we review the rapidly growing literature on the real effects of banks' corporate
credit supply. We cover recent methodological advances and provide an in‐depth survey of …
credit supply. We cover recent methodological advances and provide an in‐depth survey of …
Macroeconomic effects of debt relief: Consumer bankruptcy protections in the great recession
This paper argues that the debt forgiveness provided by the US consumer bankruptcy
system helped stabilize employment levels during the Great Recession. We document that …
system helped stabilize employment levels during the Great Recession. We document that …
The missing intercept: A demand equivalence approach
CK Wolf - American Economic Review, 2023 - aeaweb.org
I give conditions under which changes in private spending are accommodated in general
equilibrium exactly like changes in aggregate fiscal expenditure. Under such demand …
equilibrium exactly like changes in aggregate fiscal expenditure. Under such demand …
Revenue vs expenditure based fiscal consolidation: the pass-through from federal cuts to local taxes
A growing literature emphasizes that the output effect of fiscal consolidation hinges on its
composition, as the choice of increasing revenues vs cutting expenditure is not neutral …
composition, as the choice of increasing revenues vs cutting expenditure is not neutral …