periods is attributed to the time-varying volatility of shocks. The history for inflation is more nuanced, as a more vigorous …) model of the U.S. economy with both stochastic volatility and parameter drifting in the Taylor rule. They use the results of … sources of the rise and fall of the Great Inflation from the late 1960s to the early 1980s and of the Great Moderation of …

into volatility persistence in stock returns. In part two, I show that the introduction of continuous trading on the WSE is … volatility on days after limit hits and positive autocorrelation in stock returns. I do not find significant advantages of this …

volatility on foreign exchange markets. Starting point is the market participant's microeconomic investment decision, which is … trading volume and volatility on foreign exchange markets. We apply various two-country-models with representative market …

mid-1980s, in contrast to the simultaneous volatility decline of most aggregates, including overall hours and employment … the skill premium, it is interesting to check its short-run implications for employment volatility. The numerical results … DSGE models' implications for overall labor market' volatility. …

explain the development of inflation dynamics and the formation process of inflation expectations of households respectively. We …

-separability of the utility function, inflation aversion, nominal transaction frictions). The monograph is organized as follows … market share competition with the assumption that agent?s behavior is characterized by inflation aversion. Chapter IV is … devoted to the GMM estimation of crucial parameters of the inflation-aversion model of the previous chapter. A model featuring …

question and to estimate the model.My second chapter revisits the welfare cost of anticipated inflation in an incomplete … provides an insurance channel to individuals against changes in the return on nominal balances through inflation as documented … by Aguiar and Hurst (2007) and McKenzie and Schargrodsky (2011). In my model economy, a higher level of inflation affects …

which the median voter chooses the inflation rate. I use an environment where individuals face an uninsurable idiosyncratic … labor productivity shock, and money is the only asset. Being an effective tax on savings, inflation acts as a redistribution … mechanism transferring resources from the rich to the poor. I show that the median voter chooses a positive inflation rate as …

If there is one thing economists agree on, probably it is that inflation is a monetary phenomenon. Money also is … predicting Turkish inflation and output growth in last two decades both in-and out-of-sample. We used all time series approaches … information in predicting inflation and output in Turkey. Divisia aggregates have superior information content in predicting …

, inflation, interest rates, exchange rates and international trade. The course is divided into five parts: The first presents the …