money demand falls, while a positive goods productivity shock raises temporary output and velocity. The paper explains such … velocity volatility at both business cycle and long run frequencies. With filtered velocity turning negative, starting during … important for velocity during less stable times and the goods productivity shock more important during stable times. …

In a situation where agents can only observe a noisy signal of the shock to future economic fundamentals, SVAR models … can still be successfully employed to estimate the shock and the associated impulse response functions. Identification is … role of the "noise" shock the component of the signal observed by agents which is unrelated to economic fundamentals as a …

We document a strong co-movement between the VIX, the stock market option-based implied volatility, and monetary policy …. We decompose the VIX into two components, a proxy for risk aversion and expected stock market volatility ("uncertainty …

investment funds traces out a mean-variance tradeoff for the growth rate of the economy. In particular, the volatility of these … and volatility. …

type of shock. Expansionary securitization shocks lead to a permanent rise in real GDP and a fall in inflation. Bank …