other asset classes generally underperform after banking crises. While prices are depressed during crises and partially …

This paper reviews the existing empirical evidence on the short-term impact on prices of fiscal variables and assesses … Commission and the OECD models. Overall, a broad consensus appears on the impact on prices of changes in individual government … limited impact on prices in the first year while, in contrast, changes in indirect taxes and employers' social security …

This paper investigates the persistence of aggregate wages and prices in Portugal assuming a model of a unionized … wages is attributable mainly to unemployment shocks (about 80 percent), whereas variation in the forecast errors of prices …). Productivity shocks explain somewhat less than 10 percent of the variation in forecast errors of wages and prices. …

relationship was not altered by the Great Recession or the low interest rate environment. …

implied the highest probability of a recession occurring from a pre-crisis perspective …

Recession of 2007-2009 via a Bayesian time-varying parameter structural VAR. We identify a ‘pure' spread shock which, leaving …