The Structural Dynamics of Output Growth and Inflation: Some International Evidence
使用结构时变系数VAR模型，研究美国、欧元区和英国的产出增长与通货膨胀动态，发现各国通胀结构相似但产出增长不同，经济结构变化有限且永久性变动基本不存在。
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. Copyright 2007 The Author(s). Journal compilation Royal Economic Society 2007.