We use detailed Norwegian administrative data to identify the income loss associated with the onset of unemployment and analyze the corresponding consumption expenditure response and the extent to which this response is related to household balance sheet components. Unemployment results in a...

We propose a novel and numerically efficient quantification approach to forecast uncertainty of the real price of oil using a combination of probabilistic individual model forecasts. Our combination method extends earlier approaches that have been applied to oil price forecasting, by allowing...

Recent developments in US house prices mirror those of the 1996-2006 boom, but the recovery in construction activity has been weak. Using data for 254 US metropolitan areas, we show that housing supply elasticities have fallen markedly in recent years. Housing supply elasticities have declined...