The standard approach to solving linear DSGE models is to apply the QZ method. It is a one-shot algorithm that leaves the researcher with little alternative than to seek a different algorithm should the result be numerically unsatisfactory. We develop an iterative implementation of QZ that...

We construct a narrative instrument for government investment from official records in Germany. Using structural vector autoregressions, we document a significant crowding-in of private investment and an output multiplier of roughly 2. Then, we match a New Keynesian dynamic stochastic general...

In many countries, subsidies towards higher education and financial aid to students from poorer backgrounds have reduced socio-economic status (SES) gaps in undergraduate study. The increasing importance of graduate studies that are typically more expensive may, however, provide a new avenue for...