surrounding the effects of rule-based monetary policy on unemployment dynamics in the euro area and the US. We employ a Bayesian …

production volatility, significantly increases the responsiveness of oil prices to oil shocks. This implies a lower price … volatility. Also the impact of oil shocks on economic activity appears to be significantly stronger in uncertain times …

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

, output volatility, and economic growth, using a large cross-section of 88 countries over the period 1960 to 2004 … results: First, both pro- and countercyclical fiscal policy amplify output volatility, much in a way like pure fiscal shocks … that are unrelated to the cycle. Second, output volatility, due to variations in cyclical and discretionary fiscal policy …

interact and affect the evolution of unemployment rates and participation rates, the two main indicators of labour market … performance. Our analysis has two special features. First, apart from the two labour market states – employment and unemployment … that a shock to the net flow from unemployment to employment drive the unemployment rate and the participation rate in …

density function with higher density and thereby generate large, asymmetric job-finding rate and unemployment reactions. Our …

, the effect on inflation is not significantly different from zero. This suggests that while the Japanese Quantitative … Easing experiment was successful in stimulating real activity in the shortrun, it did not lead to any increase in inflation …