and supervisory arrangements adequate when market volatility increases and financial institutions come under stress? In …

, through the New Keynesian Phillips Curve, lower inflation. While the proposed model does a good job at matching the observed … dynamics, it generates insufficient volatility of markups and profits. Estimates of standard parameters are largely unaffected …

The VIX, the stock market option-based implied volatility, strongly co-moves with measures of the monetary policy … stance. When decomposing the VIX into two components, a proxy for risk aversion and expected stock market volatility …

analysis sheds light on the recent change in inflation volatility and persistence as well as on the Phillips curve flattening … qualitative and quantitative information on subsequent inflation. The usefulness of monetary analysis is contrasted to weaknesses … in modeling monetary policy and inflation with respectively short-term interest rates and real activity measures. The …

We analyze empirical links between the perceived tail-risk of inflation, the policy rate, longer-term interest rates … always in reaction to Fed announcements; and, (v) our impulse responses demonstrate that odds of extreme inflation outcomes …

Stylized facts suggest that output volatility in OECD countries has declined in recent years. However, the causes and … structural breaks in the dynamics and the volatility of the real output process in Germany can be detected. We report evidence … that output volatility has declined in Germany. Yet, this decline in output volatility is not as clear-cut as it is in the …

This paper provides a summary of current knowledge on inflation persistence and price stickiness in the euro area …, based on research findings that have been produced in the context of the Inflation Persistence Network. The main findings … are - i) Under the current monetary policy regime, the estimated degree of inflation persistence in the euro area is …