introduction had on electricity market. The most relevant effect is the reduction of the level of electricity price's volatility … multiple linear regression. Then, to study volatility dynamics, we fit a two-states Markov-switching model to represent a high-volatility … and a low-volatility states of the world. This model highlighted that in both states the level of volatility is lower and …

movements with little inflation response; yet, at some point, something snaps, and a sudden inflation takes off that is strongly …

rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard …We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and … Epstein-Zin preferences to study the volatility implications of a monetary policy shock. An unexpected increases in the policy …