The economic slowdown of 2001 reduced productivity growth in both the United States and Canada. This development has … raised the question of the sustainability or permanency of the pace of productivity growth experienced during the 1995 …-2000 period in the United States and the likelihood of robust U.S. productivity growth spreading to Canada. In this article …

We study the implications of increased price flexibility on aggregate output volatility in a dynamic stochastic general … flexibility ; aggregate volatility ; systematic monetary policy ; DSGE model ; Bayesian estimation …

Acceleration and the Great Moderation. The implication is that changing variances of shocks caused the reduction of volatility …. Smaller Fed policy errors accounted for the fall in inflation volatility. Smaller supply shocks accounted for the fall in … output volatility and smaller demand shocks for lower interest rate volatility. The same model with differing Taylor rules of …

The VIX, the stock market option-based implied volatility, strongly co-moves with measures of the monetary policy … stance. When decomposing the VIX into two components, a proxy for risk aversion and expected stock market volatility …

The volatility of U.S. real GDP growth since 1984 has been markedly lower than that over the previous quarter … find that reduced innovation variances account for much of the decline in aggregate output volatility. Our results support … the "good-luck" hypothesis as the leading explanation for the decline in aggregate output volatility, although "good …

of the GDP growth rate represents an economic trend and is inversely proportional to the attained level of real GDP per … the economic trend and is defined as a half of the growth rate of the number of 9-year-olds. This nonlinear relationship … between the growth rate of real GDP per capita and the number of 9-year-olds in the USA is tested for cointegration. For …

evolution of the RER, that more appreciated RERs are less predictable, that RER depreciations lower output growth and that RER … uncertainty lowers output growth, even when controlling for its wellstudied effect on trade. By contrast, none of these effects …