ambiguity on the relationship between secular growth and cyclical volatility …This paper presents a stochastic monetary growth model with nominal rigidities and active monetary policy in which …

In a monetary growth model, I show that average inflation inhibits growth while inflation volatility enhances it. The … effect of nominal volatility on human capital accumulation depends on the response of money demand and the corresponding …

Policy reforms aimed at boosting long-run growth often have side effects – positive or negative – on an economy … reconsideration of the role growth-promoting policies play in shaping the vulnerability and resilience of an economy to macroeconomic … growth – contained in Going for Growth and the Economic Outlook – and attempts to establish whether they underpin …

In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge …-run endogeneity. Generally, we show that in a Kaleckian monetary distribution and growth model, which takes the major features of a …

In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge …-run endogeneity. Generally, we show that in a Kaleckian monetary distribution and growth model, which takes the major features of a …

This paper explores the influence of inflation on economic growth both theoretically and empirically. We propose to … merge an endogenous growth model of learning by doing with a New Keynesian one with sticky wages. We show that the … intertemporal elasticity of substitution of working time is a key parameter for the shape of the inflation-growth nexus. When it is …

In Kaleckian models of distribution and growth the equilibrium rate of capacity utilisation may persistently diverge …-run endogeneity. Generally, we show that in a Kaleckian monetary distribution and growth model, which takes the major features of a …

presents empirical studies related to economic growth and its determinants across countries, based on the use of data …

variance of chain-weighted estimates of production-based real GDP growth into sector shares, sector growth rate variances and … co-variances. The principal explanation for the decline in GDP volatility is a fall in the sum of sector variances driven … by a decline in the Services and Manufacturing sector production growth variances. Sector co-variances have had a …

utility of these methods for modelling growth and volatility regimes present in the New Zealand data and their interaction … their mean and volatility over time. The paper discusses applications of the methodology to identifying changes in growth … performances, and examines the timing of growth and volatility regime switching between production sectors. Conclusions to emerge …