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DOMINIK BODDIN · DANIEL MARCEL TE KAAT · CHANG MA · ALESSANDRO REBUCCI

Layer 1 — Overview Research Question This paper identifies and quantifies a housing portfolio channel of quantitative easing (QE) transmission that operates through household portfolio rebalancing …

Ariel T Burstein · Vasco M Carvalho · Basile Grassi

Layer 1 — Overview Research Question The paper asks how firm-level, sector-level, and aggregate markups comove with output at different levels of aggregation, and whether a single structural model can …

Andrew B. Abel · Stavros Panageas

Running Primary Deficits Forever in a Dynamically Efficient Economy: Feasibility and Optimality Research Question The paper addresses two questions about government debt rollover. First, a positive …

Mark Gertler · Christopher Huckfeldt · Antonella Trigari

This paper measures and models the role of temporary layoffs (TL) in cyclical unemployment dynamics, motivating the analysis by the extraordinary surge in temporary layoffs at the onset of the …