equilibrium exists. We study the response differences in the dynamics of the inflation rate to changes in the mean and variance of … the Great Recession, in which the effects of greater model uncertainty may have played a role in keeping inflation rates …

This study analyzes global inflation synchronization and derives policy implications for the Korean economy. Unlike … previous studies that assume a single global inflation factor, this study investigates if inflation in Korea can be explained … further by other global inflation factors. Our principal component analysis provides three principal components for global …

prior theory and yet it encompasses all standard DSGE models. After introducing this new paradigm I study US monetary policy …