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2 “...Housing markets are large and highly volatile: they can thus create large macroeconomic risks...”

3 “... economic instability is only very loosely related to macroeconomic volatility. It uses several household...”

4 “... economic instability is only very loosely related to macroeconomic volatility. It uses several household...”

5 “... ageingrelated public spending and a stock of debt to be repaid) is used to compare the macroeconomic impact...”