Methods of inference based on a unit root assumption in the data are typically not robust to
even small deviations from this assumption. In this paper, we propose robust procedures for …

In recent business cycles, US inflation has experienced a reduction of volatility and a severe
weakening in the correlation to the nominal interest rate (Gibson paradox). We examine …

The first part of this paper is devoted to describe a New Keynesian model, which, after
calibration, shows a great fit on Euro area macroeconomic data. Then, the stabilizing …

This paper examines the impact of internationalization on the product, process and
organizational innovations of Korean service firms. Despite the increasing importance of the …

In this paper, we consider a small open economy under the New Keynesian model with
unemployment of Gali (2011a, b) to discuss the design of the monetary policy. Our findings …

Recognised by the United Nations as one of the eight Millennium Development Goals, the
preservation of the environment and consequently of the climate, requires strong …

US inflation has experienced a great moderation in the last two decades. This paper
examines the factors behind this and other stylized facts, such as the weaker correlation of …

The recent" Great Recession" has thrown macroeconomic research into a state of disarray
and has clearly shown the need to go beyond traditional business cycle explanations …

In this paper, we consider a small open economy under the New Keynesian model with
unemployment of Galí (2011a, b) to discuss the design of the monetary policy. Our findings …

The object of these lectures is to provide a short course on monetary economics and
essential portions of macroeconomics. The course is intended for advanced students but …