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

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Canova, Fabio; Gambetti, Luca; Pappa, Evi. The Structural dynamics of output growth and inflation: some international evidence. 2007
http://hdl.handle.net/10230/846

To cite or link this document: http://hdl.handle.net/10230/846

Title:	The Structural dynamics of output growth and inflation: some international evidence
Author:	Canova, Fabio; Gambetti, Luca; Pappa, Evi
Other authors:	Universitat Pompeu Fabra. Departament d'Economia i Empresa
Abstract:	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
Document type:	Working paper
Date:	2007
Rights:	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/)