level clearly. A positive information shock which also induces increases in interest rate is perceived by private agents as …

We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and … Epstein-Zin preferences to study the volatility implications of a monetary policy shock. An unexpected increases in the policy … rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard …

's effect on fundamentals. The estimation results from a bivariate VAR-GARCH model suggest that the Fed does not respond to the …

's effect on fundamentals. The estimation results from a bivariate VAR-GARCH model suggest that the Fed does not respond to the …

the real economy, I find that the asset purchase shock has significant effects on consumer and professional expectations … of inflation and GDP growth. I compute dynamic responses of inflation and GDP growth; asset purchases have significant …

increases, so does the risk that a restrictive forward guidance shock will increase rather than decrease stock prices. This … suggest that uncertainty is an alternative approach to explain the phenomena previously known as "information shock" and …