We introduce endogenous growth in an otherwise standard NK model with staggered prices and wages. Some results follow …: (i) monetary volatility negatively affects long-run growth; (ii) the relation between nominal volatility and growth … increases the negative effect of nominal volatility on mean growth. …

relationship between foreign idiosyncratic shocks and domestic economic growth between 1978 and 2000. Contemporaneous changes in … associated with a 0.05-0.26 pp increase in economic growth. Lastly, this can potentially explain the Great Moderation. …

the associations of growth level, growth volatility, shocks, institutions, and macroeconomic fundamentals have changed in … important ways after the crisis. Gross domestic product growth across countries has become more dependent on external factors …, including global growth, global oil prices, and global financial volatility. After accounting for the effects global shocks, we …