aggregate shocks. The implications of asymmetries for both the overall performance of the monetary union and the country … country-specific shocks a country unambiguously benefits in terms of macroeconomic stability by becoming more flexible, but in …

This paper analyzes the international transmission effects of euro area monetary policy shocks in to other western …

reasonably flat. We show that the persistence of inflation and unemployment, in response to monetary policy shocks, is related to …This paper offers a reappraisal of the inflation-unemployment tradeoff, based on ?frictional growth,? describing the … expectations, there is a long-run inflation-unemployment tradeoff. Our empirical analysis suggests that this Phillips curve may be …

This paper investigates both the effects of domestic monetary policy and external shocks on fundamental macroeconomic … shocks and external shocks. Their research reveals that a contractionary monetary policy in most countries appreciates the … domestic currency, increases interest rates, effectively controls inflation rates and reduces output. They do not find any …

demand gives a realistic response of real commodity prices to inflation. Based on historical simulations, shocks to inflation … contribution of fluctuations in inflation to this particular link. In the data, a temporary rise in inflation causes real commodity … prices to rise, as does a rise in trend inflation. We find that a simple dynamic equilibrium model of commodity supply and …

hyperbolic discounting leads to inflation having significant long-run effects on real variables. …

A growing body of empirical evidence shows that there exists a long-run positive tradeoff between inflation and real … between inflation and output. …

Theoretical models point at various channels of the impact of inflation on corporate investment. This article attempts … corporate investment and inflation on the sample of 21 OECD countries in the years 1960-2005. The obtained negative relationship … relationship: marginal effect on corporate investment is higher at inflation rates between 3 and 5.5 per cent. These results …