the most important source of inflation variability in the euro area. This article shows that an empirically plausible …

This paper examines the relationship between volatility shocks and preference shocks in an analytically tractable … endogenous growth model with recursive preferences and stochastic volatility. I show that there exists an explicit mapping … between volatility shocks and preference shocks, and a rise in volatility generates the same impulse responses of …

volatility in the oil market and are responsible for the mean-reversion behavior of oil prices. On the other hand, long …

This paper shows that increased volatility of Örm-level productivity can push the nominal interest rate to its lower …

evidence suggest that this effect is smaller during the inflation targeting period. …

changing nature of inflation dynamics. We estimate a series of VAR models for a set of six Asian emerging market economies, in … parts of inflation and output dynamics. The global shocks are procyclical with respect to the domestic components of …

An apparent disconnect has taken place between inflation and economic activity in the US over the last 25 years, with … price inflation remaining remarkably stable in spite of large fluctuations in the output gap and other measures of economic … unconditional variation in US macro data into the components driven by demand and supply disturbances, and confront the inflation …