The alpha-stable family of distributions constitutes a generalization of the Gaussian distribution, allowing for asymmetry and thicker tails. Its practical usefulness is coupled with a marked theoretical appeal, as it stems from a generalized version of the central limit theorem in which the...

The [alpha]-stable family of distributions constitutes a generalization of the Gaussian distribution, allowing for asymmetry and thicker tails. Its many useful properties, including a central limit theorem, are especially appreciated in the financial field. However, estimation difficulties have...

Amid the recent commodity price gyrations, policy makers have become increasinglyconcerned in assessing to what extent oil and food price shocks transmit to theinflationary outlook and the real economy. In this paper, we try to tackle this issue bymeans of a Global Vector Autoregressive (GVAR)...