: (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. …

construct non-capital (idiosyncratic) shocks, using labor productivity shocks to large firms. We document a change in the …

account for a significant portion of aggregate volatility. Yet, we question the original view grounded on "supply granularity …", as proxied by productivity growth shocks - in line with the Real Business Cycle framework -, and we provide empirical …

We investigate the sources of the great changes in GDP volatility observed from 1966 to 2000. We develop a general … equilibrium model and calibrate it to US data in order to characterize the contribution of micro level productivity shocks, inter …-sectoral linkages and households' behavior to aggregate volatility. Our results show that changes in sectoral volatility played an …

​I​In this paper we use a New Keynesian model to explain why volatility transfer from high frequency to low frequency … increase in inflation aversion and/or a reduction to a commitment to output stabilization could have caused this volatility … reversal in any of the policy parameters and hence in the volatility found in the low frequency cycles identified by use of …

develop a methodology to construct non-bank capital shocks, idiosyncratic shocks, using labor productivity shocks to large … low aggregate volatility …

construct non-capital (idiosyncratic) shocks, using labor productivity shocks to large firms. We document a change in the …