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Every year during the second and thirdquarters (the “hot season”) housing markets in the UK and the US experience systematic above-trend increases in both prices and transactions. During the fourth and first quarters (th...Read more...
L. Rachel Ngai and Silvana Tenreyro
Systematic differences in the timing of wage setting decisions among industrialized countries provide an ideal framework to study the importance of wage rigidity in the transmission of monetary policy. The Japanese Shunt...Read more...
Giovanni Olivei and Silvana Tenreyro