This paper investigates the volatility of the rates of output growth for the U.S., Canada and the UK. We empirically … characterize the volatility of the growth rate of real GDP and, at the same time, we hope we can successfully identify business … cycle turning points. The empirical results show that there have been structural changes in the volatility of output growth …

nominal rigidities, the shock persistence and the type of Taylor rule affect the relationship between monetary volatility and …

aggregate volatility decays is determined by the structure of the network capturing such linkages. Our main results provide a …, but also indirectly to the rest of the economy. Our results highlight that sizable aggregate volatility is obtained from …