consequence, inflation is less volatile and output is more volatile than under a non-robust policy. Under one particular timing …

consequence, inflation is less volatile and output is more volatile than under the non-robust policy. Under one particular timing …

of the households' consumer price inflation rates or their individual rates, respectively. After a negative demand shock … higher inflation rate mitigates the immediate effects of the shock on both consumer price inflation rates more effectively …Empirical evidence suggests that considerable differentials in inflation rates exist across households. This paper …

We use a simple New Keynesian model, with firm specific capital, non-zero steady-state inflation, long-run risks and … Epstein-Zin preferences to study the volatility implications of a monetary policy shock. An unexpected increases in the policy … rate by 150 basis points causes output and inflation volatility to rise around 10% above their steady-state standard …

observed variables. Shock decompositions of the output and the inflation rate revealed the driving forces of the business … growth, the inflation rate and the nominal interest rate (means, standard deviations and cross-correlations) are close to …