The Structural Dynamics of Output Growth and Inflation

Some International Evidence

Bibliographic Data

ID9715811
AuthorsFabio Canova (0000-0002-8782-4787, ICREA‐UPF, CREI, AMeN and CEPR), Luca Gambetti (Universitat Automoma de Barcelona and Universita’ di Modena), Evi Pappa (0000-0002-2393-0142, Universitat Automoma de Barcelona and CEPR)
Year2007
Volume117
Issue519
PagesC167-C191
Publication date2007-03-01
Peer ReviewedYes
Open AccessYes
TypeARTICLE
VenueThe Economic Journal (JOURNAL)
Journal identifiersISSN: 0013-0133 • E-ISSN: 1468-0297
PublisherOxford University Press (OUP) (PUBLISHER)
DOI10.1111/j.1468-0297.2007.02040.x
OpenAlexW2155759063
LanguageEN
Citations received3
References cited19

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. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007

Dynamics (music · Econometrics · Economics · Inflation (cosmology · Macroeconomics · Monetary economics · Structural break · Structural change · Global Financial Crisis and Policies · Monetary Policy and Economic Impact

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