this link using a factor-augmented vector autoregressive model (FAVAR) which extends a standard VAR for the U ….S. macroeconomy. The model includes GDP growth, inflation, the Federal Funds rate, house price inflation, and a set of factors …

prices and the risk-taking incentives of banks. We use a factor-augmented vector autoregressive model (FAVAR) for the U …

stronger bargaining position when they try to prevent a cut in money wages. If inflation is so low that some money wages have … to be cut, workers‘ stronger bargaining position requires higher unemployment in equilibrium. However, inflation is more … stable when money wage rigidity binds, providing an incentive for monetary policy makers to choose a low target for inflation …

economic performance under inflation targets, and arguments that the flexible exchange rate has undermined real economic …

independence and inflation. Making use of data on the evolution of central bank independence over time and controlling for possible … country’s inflation performance. Examining a cross-section of up to 69 countries, we are able to show that granting a central … bank more autonomy does not necessarily lead to better inflation performance. To lower inflation by increasing independence …

markets. Since GCC countries are major world energy market players, their stock markets are likely to be susceptible to oil …

demand and supply shocks. The results show that higher macroeconomic uncertainty, as measured by higher world industrial …