This paper studies the role of the Federal Reserve's policy in the recent boom and bust of the housing market, and in the ensuing recession. By estimating a structural dynamic factor model on a panel of 109 US quarterly variables from 1982 to 2010, we find that, although the Federal Reserve's...

We investigate the possible existence of asymmetries among Euro Area countries reactions to the European Central Bank monetary policy. Our analysis is based on a Structural Dynamic Factor model estimated on a large panel of Euro Area quarterly variables. Although the introduction of the euro has...

To date, relatively little is known about the nature of the demand for high-speed rail (HSR) soon after inauguration of the services, despite close to 50-year experience of HSR operation and 17 166 km of HSR network around the world. This is a real lacuna given the scale of HSR construction...