I argue that the seemingly disparate findings of the recent empirical literature on monetary
policy transmission are all consistent with the same standard macro models. Weak sign …

We develop a technique to exploit forecast error variance decompositions to evaluate the
macroeconomic connectedness embedded in any multi-country macroeconomic model with …

State space models play an important role in macroeconometric analysis and the Bayesian
approach has been shown to have many advantages. This paper outlines recent …

This article provides an introduction to the burgeoning academic literature on Bayesian
vector autoregressions, benchmark models for applied macroeconomic research. I first …

We resume the line of research pioneered by CA Sims and Zha (Macroeconomic Dynamics,
2006, 10, 231–272) and make two novel contributions. First, we provide a formal treatment …

The paper explores the relationship between education, digitalization, and financial
development between 1996 and 2019 with the aim of showcasing the differences between …

A large literature estimates the exchange rate pass-through to prices (ERPT) using reduced-
form approaches, whose results are an important input for Central Banks. We show two …

R&D is a main driver of growth, whether by generating new ideas for production or
increasing technological transfer. However, R&D itself is risky and faces numerous barriers …

Does economic theory help in forecasting key macroeconomic variables? This article aims
to provide some insight into the question by drawing lessons from the literature. The …

We study what happens to identified shocks and to dynamic responses when the data
generating process features q disturbances but q1< q variables are used in an empirical …