This paper addresses the output-price volatility puzzle by studying the interaction of optimal monetary policy and … processing rate. Although a decline of policy activism directly increases output volatility, it indirectly anchors expectations …, which decreases output volatility. If the indirect effect dominates then the usual trade-off between output and price …

calculated. Therefore, in this paper, we review the literature on global risk, uncertainty, and volatility measures drawing on …A large number of measures for monitoring risk and uncertainty surrounding macroeconomic and financial outcomes have … researchers in their analyses. However, risk and uncertainty measures differ across multiple dimensions, including the method of …