Bank of England working paper no.73
نویسندگان
چکیده
5
منابع مشابه
Working Paper No. 434 Evolving UK and US macroeconomic dynamics through the lens of a model of deterministic structural change
Using a model of deterministic structural change, we revisit several topics in inflation dynamics explored previously using stochastic, time-varying parameter models. We document significant reductions in inflation persistence and predictability. We estimate that changes in the volatility of shocks were decisive in accounting for the great moderations of the United States and the United Kingdom...
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This paper represents the views and analysis of the authors and should not be thought to represent those of the Bank of England or Monetary Policy Committee members. We thank an anonymous referee, Robert King and seminar participants at the Bank of England, CEPR/MMF workshop and the London Business School for comments. The Bank of England's working paper series is externally refereed.
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