Canova, FabioGambetti, LucaPappa, EviUniversitat Pompeu Fabra. Departament d'Economia i Empresa2017-07-262017-07-262006-04-01The Economic Journalhttp://hdl.handle.net/10230/846We 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.application/pdfengL'accés als continguts d'aquest document queda condicionat a l'acceptació de les condicions d'ús establertes per la següent llicència Creative Commonsinfo:eu-repo/semantics/workingPapervariabilitypersistencetransmissionstructural time varying varsMacroeconomics and International Economicsinfo:eu-repo/semantics/openAccess