find that (i) the US economy is well described by a number of structural shocks between two and five. Focusing on the four-shock … prevails for GDP, while demand prevails for employment and inflation. (ii) Monetary and fiscal policy shocks have sizable …

these news components. The authors propose an alternative MP shock identification approach to analyze the MP effects on the …

This study sought to identify the traditional and institutional inflation variables responsible for inflation … that 60% of disequilibrium errors from the previous year’s shock converge back to the long-run equilibrium in the current … year. The study therefore concluded that inflation in Nigeria, during the studied period, was driven by the pass-through of …

inflation, output, and long-term interest rates, central banks in small open economies face peculiar challenges in their …

economic interpretation of the structural shock of interest. We test alternative instruments and find that narrative and model …

frequency vector autoregression (VAR). It shows that potential causalities for inflation, relative price variability, relative …

output and real-rate gaps can be represented in a parsimonious and practical manner using the theory of anelasticity that …

The popularity of inflation targeting has risen in the last decade and the number of countries that adopted inflation … targeting as their monetary policy framework surpassed 40 by the end of 2016. This study analyzes whether inflation targeting … around the world has been successful in terms of achieving the announced target and keeping inflation rate around it. We …