volatility to estimate the changing spillover of global oil shocks into the Maltese economy during the period that goes from …

We develop a dynamic factor model with time-varying parameters and stochastic volatility, estimate it with several … findings, the estimates suggest that global uncertainty plays a primary role in explaining the volatility of inflation …

We build a dynamic factor model with time-varying parameters and stochastic volatility and use it to decompose the … common global uncertainty plays a primary role in explaining the volatility of inflation, interest rates and stock prices …, although to a varying extent over time. Region-specific uncertainty drives most of the exchange rate volatility for all Euro …

explicitly absorb a larger share of the systemic risk. The options for doing this range from surplus countries rebalancing their … securitization industry while removing the systemic risk from the banks' balance sheets. Such public-private solutions could be …

significantly lower aggregate volatility. This relationship is also highly non-linear starting from a low level of financial … development the reduction in aggregate volatility by financial deepening is far more significant than it is when the financial … spending shocks, preference shocks) on aggregate output and investment, and why this volatility-reducing effect diminishes with …