through error spillover effects. Bootstrapped error bands are also provided for the cross country responses of a shock to the …

responses to both permanent and transitory shocks in Hungary and compared my results to similar studies on Italian and … response differs depending on the nature of the shock. Broadly speaking, the wage response to permanent shocks is twice as high …

model of the economy, the minimal state variable solution (MSV), but they do not know the parameters. However, with medium … the rest of the economy, nor do they know the stochastic processes generating shocks hitting the economy. In addition … path to the shocks to the economy when agent form expectations using our learning approach compared to expectations formed …

In a highly interlinked global economy a key question for policy makers is how foreign shocks and policies transmit to … the domestic economy. We develop a semi-structural multi-country model with rich real and financial channels of … international shock propagation for the euro area, the US, Japan, the UK, China, oil-exporting economies and the rest of the world …

degree of wage rigidity makes monetary policy more effective, i.e. a monetary policy shock transmits faster onto inflation …

This paper aims at assessing the role of the United States in the global economy and its evolution over time. The … emergence of large economic players, like China, is likely to have weakened the role of the U.S. economy as a driver of global …

Macroeconomic imbalances increase the vulnerability of an economy to adverse shocks, which in turn can lead to crises … multivariate discrete choice framework. The approach allows us to quantify an economy's macroeconomic vulnerabilities at any point …