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The productivity gap: Monetary policy, the subprime boom, and the post-2001 productivity surge
(Elsevier, 2015-03)
It is widely believed that, in the wake of the dot.com crash, the Fed kept the federal funds target rate too low for too long, inadvertently contributing to the subprime boom. We attribute this and other Fed departures ...
Building with bricks and mortar: the revenue impact of opening physical stores in a multichannel environment
(Elsevier, 2015-06)
A crucial decision firms face today is which channels they should make available to customers for transactions. We assess the revenue impact of adding bricks-and-mortar stores to a firm's already existing repertoire of ...
Providing information for decision making: Contrasting description and simulation
(Elsevier, 2015-09)
Providing information for decision making should be like telling a story. You need to know, first, what you want to say; second, whom you are addressing; and third, how to match the message and audience. However, data ...
The reset inflation puzzle and the heterogeneity in price stickiness
(Elsevier, 2015-11)
New Keynesian models have been criticised on the grounds that they require implausibly large price shocks to explain inflation. Bils et al. (2012) show that, while these shocks are needed to reduce the excessive inflation ...
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