under large output shocks. The outcomes of capital account switches are better and closer to policymakers' expectations in …

foreign capital inflows directly boosts growth. What explains these results, which are contrary to the predictions of … to overvaluation caused by rapid capital inflows …

This paper connects two salient economic features: (i) Fiscal shocks have asymmetric effects across business cycle … of fiscal shocks and unemployment-output trade-offs are studied in this paper using state-of-the-art TVP-VAR modelling …-run impact of fiscal shocks on Okun's trade-off which, based on the experience of the Global Financial Crisis, becomes larger in …

We examine the Exchange Rate Volatility (ERV) response to the Economic Policy Uncertainty (EPU) shocks from a panel VAR … postulate that (a) both home and foreign EPU shocks are highly significant in explaining the ERV, (b) the contribution of the …

shock. Third, we present evidence coherent with the idea that more leveraged sectors experience larger employment volatility … financial shocks do translate into the labor markets. In this paper we first document that financial recessions amplify labor … market volatility and Okun's elasticity over the business cycle. Second, we highlight a key mechanism linking financial …

This paper presents new evidence on international trade and worker outcomes. It examines a big world event that … produced an unprecedentedly large shock to the UK exchange rate. In the 24 hours in June 2016 during which the UK electorate … occurred in any of the world's four major currencies since the collapse of Bretton Woods. Exploiting this variation, the paper …

This paper explores the influence of wage and price staggering on monetary persistence. We show that, for plausible … parameter values, wage and price staggering are complementary in generating monetary persistence. We do so by proposing the new … measure of quantitative inertia, after discussing weaknesses of the contract multiplier, a standard measure of monetary …

the effects of migration on the accumulation of both knowledge and human capital, by invoking endogenous growth theory …