E3 - Prices, Business Fluctuations, and Cycles
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Changes in the Effects of Monetary Policy on Disaggregate Price Dynamics
We examine the evolution of the effects of monetary policy shocks on the distribution of disaggregate prices and quantities of personal consumption expenditures to assess the contribution of monetary policy to changes in U.S. inflation dynamics. -
House Price Dynamics: Fundamentals and Expectations
We investigate whether expectations that are not fully rational have the potential to explain the evolution of house prices and the price-to-rent ratio in the United States.