I study the evolution of aggregate volatility in the US during the postwar period by assessing the relative role played by financial shocks, technological progress, and changes in the financial system. Balance-sheet variables of firms have been characterized by greater volatility since the early...

This study examines the influence of select macroeconomic variables and globalization variables on the volume of patented innovations in five industrialized OECD countries (the U.S., the U.K., Germany, Japan, and Australia) and in five emerging countries known as BRICS (Brazil, Russia, India,...

Los modelos DSGE modernos están microfundamentados, y sus parámetros son estructurales, así que en principio deberían ser invariantes ante cambios de política económica y no estar sujetos a la crítica de Lucas. Pero la literatura ha encontrado que problemas de especificación generan...