The decline in output volatility in a number of countries over the past few decades has been well-documented, though … volatility. We suggest that reforms in product and labour markets can reduce volatility of aggregate output by encouraging … output volatility. Our estimates are reasonably robust to a number of alternative specifications, including those that …

Since the '80s the volatility of output growth and inflation experienced by several industrialized countries has … volatility of inflation and output growth. …

reduces the volatility of inflation, the interest rate and the output-gap. Thus two economies with the same average degree of …

Since the ’80s the volatility of output growth and inflation experienced by several industrialized countries has … volatility of inflation and output growth. …

attributed to commodity price volatility in developed and developing countries, with the uncertainty effect being more …

total factor productivity (TFP) is endogenous and depends on the resource allocation. The model uncovers a novel tradeoff … between the long-run level and volatility of TFP. Inefficiencies distort this tradeoff and result in either excessive … volatility or depressed output, implying a role for corrective policy. Embedding this mechanism into a workhorse New Keynesian …

firms to align their real price with their idiosyncratic productivity growth. In contrast, the standard sticky-price model …Empirical data suggest that new firms tend to grow faster than incumbent firms in terms of their productivity. A sticky …

to productivity and monetary policy shocks. I allow the labor input to change both at the extensive margin and at the … sluggish response of inflation. I find that output and consumption show large and persistent responses to productivity and …

We analyze the influence of monetary policy on firms' extensive margin and productivity. Our empirical evidence for the …