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 … rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard …

-robust approach is proposed to construct estimation and inference. Thirdly, this paper suggests a procedure to derive theory … the FEVD tend to remove unreasonable implications, increase estimation precision, sharpen and also alter the inference of …

, effective revenue ceilings induce an increase in deficit, debt and inflation. Under many scenarios, including recurrent adverse …

responds to inflation and output volatility, especially during economic crises. This framework offers a promising alternative …

series and estimation of time varying parameter processes by well-known rolling regression estimation techniques. We … point for further research on numerous open problems including establishing estimation results of time-varying parameters …

authorities tried to deliver a low and stable inflation from 1975 onwards, however, the severe adverse supply shocks in the 70s …

distribution with the monetary shock affecting the median household relative to the 20th percentile by a larger amount than the … right tail. Our results suggest that the shock is transmitted through changes in net property and financial wealth that …