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

Fabio Canova (), Luca Gambetti () and Evi Pappa ()

Economics Working Papers from Department of Economics and Business, Universitat Pompeu Fabra

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.

Keywords: Variability; Persistence; Transmission; Structural time varying VARs (search for similar items in EconPapers)
JEL-codes: C11 E12 E32 E62 (search for similar items in EconPapers)
New Economics Papers: this item is included in nep-cba, nep-dev, nep-eec, nep-mac and nep-mon
Date: 2006-04, Revised 2006-08
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Related works:
Journal Article: The Structural Dynamics of Output Growth and Inflation: Some International Evidence (2007) Downloads
Working Paper: The Structural Dynamics of Output Growth and Inflation: Some International Evidence (2006) Downloads
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Persistent link: https://EconPapers.repec.org/RePEc:upf:upfgen:971

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