[...]In our view, this apparently surprising immunity of the U.S.economy to the Asia crisis reflects the fact that the …

output and inflation volatility; othershave attributed the decreased volatility of GDP to a reductionin the size of the …The volatility of real GDP growth in the United States hasfallen by half since the early 1980s relative to the … priorpostwar experience.1 Inflation also stabilized around then(although only when compared with a shorter period ofvolatility in …

worldtradable goods prices. Indeed, trade prices were fallingthroughout Asia by similar magnitudes, regardless of howmuch each …

Interest in commodity prices as indicators of consumerprice inflation has ebbed and flowed withthe rise and fall in … predictivepower has returned. Inflation hawks point to an outpouringof studies in the late 1980s showing a strong empiricalconnection … between commodity prices and subsequentconsumer inflation. Indeed, the concern over commoditieshas grown to the point where …

In this paper we analyse the comparative pricing of vanilla and GDP linkedsovereign debt. The key feature of GDP linked … obtainprices and default profiles for vanilla bonds and various GDP linked structuresthat could be issued by emerging market …

data revision errors in GDP on the ex ante or conditional inflation-output-growth volatility trade-off and applies it to … focusing monetary policy on GDP growth instead on inflation may lead to an inefficient policy with both increased medium term … inflation and GDP growth volatility in the presence of GDP data revisions. …

overnight interbank rate by 50 basis points—isthe ultimate effect on GDP different from what it would havebeen in the 1960s …