Paper #971

Título:

The structural dynamics of output growth and inflation: some international evidence

Autores:

Fabio Canova, Luca Gambetti y Evi Pappa

Fecha:

Abril 2006

Resumen:

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.

Palabras clave:

Variability, Persistence, Transmission, Structural time varying VARs

Códigos JEL:

C11, E12, E32, E62

Área de investigación:

Macroeconomía y Economía Internacional

Publicado en:

The Economic Journal
Con el título:
117(519), 2007, C167-C191

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