Economists have long emphasized the importance of expectations in determining macroeconomic outcomes Yet there has been … almost no recent effort to model actual empirical expectations data; instead macroeconomists usually simply assume … expectations are rational This paper shows that while empirical household expectations are not rational in the usual sense …

are the quantitative effects of increased financial risk on output and inflation? What drives the variation in the … intensive and extensive margin of labor supply? What are the spillover effects of financial market disturbances to unemployment … open economy ; DSGE ; financial frictions ; labor market frictions ; unemployment …

financial factors. It is also clear that the current standard approach of modeling labor markets without explicit unemployment …

The purpose of this paper is to determine the main causes of the Belarus high inflation during the period 1996 … rate. They are also consistent with shocks-and accommodation view of the inflation process. These findings, consistent with … some recent studies of inflation in transition economies, imply that exchange rate and wage policies, in addition to the …

Australia's inflation rate and inflation uncertainty during the post-float era 1983Q3–2006Q4 have acted as important … barometers of Australia's macroeconomic performance. The conceptualization and measurement of the nexus between inflation and … inflation uncertainty is subject to complex dynamics. We use the Markov regime switching heteroscedasticity (MRSH) model to …