Luciani, Matteo - In: Journal of Applied Econometrics 30 (2015) 2, pp. 199-218
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...
