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Title:
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The Structural dynamics of output growth and inflation: some international evidence
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Author:
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Canova, Fabio; Gambetti, Luca; Pappa, Evi
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Other authors:
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Universitat Pompeu Fabra. Departament d'Economia i Empresa |
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Resum:
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We examine the dynamics of output growth and inflation in the US, Euro area and UK using a structural time varying coefficient VAR. There are important similarities in structural inflation dynamics across countries; output growth dynamics differ. Swings in the magnitude of inflation and output growth volatilities and persistences are accounted for by a combination of three structural shocks. Changes over time in the structure of the economy are limited and permanent variations largely absent. Changes in the volatilities of structural shocks matter |
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Publication date:
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2007-01-15 |
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Subject(s):
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Variability, Persistence, Transmission, Structural time varying VARs |
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Rights:
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Aquest document està subjecte a una llicència d'ús de Creative Commons, amb la qual es permet copiar, distribuir i comunicar públicament l'obra sempre que se'n citin l'autor original, la universitat i el departament i no se'n faci cap ús comercial ni obra derivada, tal com queda estipulat en la llicència d'ús (http://creativecommons.org/licenses/by-nc-nd/2.5/es/) |
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Document type:
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Working Paper |
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