: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …

growth and shocks volatility in a model with procyclical R&D and imperfect competition in goods and labor markets. We show …We study the implications of having different sources of nominal rigidities on the relationship between productivity … that the effects of uncertainty on long-term growth not only depends on the source of fluctuations, as recent literature …

In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge …-run endogeneity. Generally, we show that in a Kaleckian monetary distribution and growth model, which takes the major features of a …

the variance of monetary shocks has a negative effect on growth, while output volatility is good for growth as a positive …We provide empirical support for an analytical DSGE model with nominal wage stickiness where growth is driven by … learning-by-doing and money shocks and their variance are allowed to impact on long-run output growth. In our theoretical model …

of monetary shocks has a negative effect on growth, while output volatility is good for growth as a positive relationship …We provide empirical support for a DSGE model with nominal wage stickiness where growth is driven by learning …-by-doing and money shocks and their variance are allowed to impact on long-run output growth. In our theoretical model the variance …

Is monetary policy less effective at stimulating investment during periods of elevated volatility (when all firms … experience an increase in the variance of their productivity shocks) than during normal times? In this paper, I argue that … elevated volatility leads to a decrease in extensive margin investment incentive so that nominal stimulus generates less …

We study monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external to each … firm. We find the following results: (i) technology and government spending shocks have different effects on growth; (ii …) disinflationary monetary policies entail positive effects on growth; (iii) the optimal long-run inflation rate is zero; (iv) the …

We study Ramsey monetary policy in a New Keynesian (NK) model with endogenous growth and knowledge spillovers external …

We provide a Keynesian growth theory in which pessimistic expectations can lead to very persistent, or even permanent …, slumps characterized by unemployment and weak growth. We refer to these episodes as stagnation traps, because they consist in … the joint occurrence of a liquidity and a growth trap. In a stagnation trap, the central bank is unable to restore full …

reduces the return to innovation, thus reducing TFP growth and generating a permanent loss in output. The origin of output … quantitative model provides evidence of significant output hysteresis resulting from endogenous growth over the Great Recession …