regimes: (1) very low inflation or deflation, and (2) high inflation. Specifically, we determine the information content of … high asset prices more often signal high inflation than low inflation/deflation. However, in some countries, high asset … prices and low bond yields are a significant indicator of low inflation or deflation as well. The transmission time of …

This paper analyses the impact of exchange rate uncertainty upon the pattern of investment in different exchange rate … exchange rate regimes indicates that currency volatility exerts only a small influence upon the level of investment spending …

interest rate on distribution and investment within different regimes of accumulation, the „golden age“- and the „post …

estate, as well as the costs of public goods to develop alternative inflation measures in Germany since the introduction of … the euro. Real economic growth as well as median wage developments are reexamined in light of the alternative inflation …

-level investment is procyclical. We show that a heterogeneous-firm RBC model with quantitatively realistic countercyclically disperse … state investment rate distribution, produces investment dispersion that positively comoves with the cycle, with a …-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks ; heterogeneous firms …

-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment ; countercyclical risk ; aggregate shocks …Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this … adjustment, where cyclical changes in uncertainty correspond naturally to cyclical changes in the cross-sectional dispersion of …

effect of time-varying uncertainty, highlighted in the literature. -- Ss model ; RBC model ; lumpy investment …Is time-varying firm-level uncertainty a major cause or amplifier of the business cycle? This paper investigates this … adjustment, where cyclical changes in uncertainty correspond naturally to cyclical changes in the cross-sectional dispersion of …

of firm-level investment is procyclical. We show that a heterogeneousfirm RBC model with quantitatively realistic … of the steady state investment rate distribution, produces investment dispersion that positively comoves with the cycle … ; cross-sectional firm dynamics ; lumpy investment ; countercyclical risk ; aggregate shocks ; idiosyncratic shocks …

interpreted, first and foremost, as a commitment device. In our setting, a monetary target helps anchoring inflation and inflation … well as a strong response to deviations of inflation from target and to the activity growth gap. In contrast, the response …