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Endogenous growth in an open economy and the real exchange rate

Federici, Daniela; Gandolfo, Giancarlo - 2001

of the euro/dollar real exchange rate. Given this value, one could then give a precise meaning to the notion of … undervaluation or overvaluation of the euro, and calculate its misalignment. The problem however arises of how to assess the …. This of course is not (yet) possible for the euro, so that all the calculations of misalignment of the euro that have been …

Persistent link: https://www.econbiz.de/10001613664

Estimated general equilibrium models for the evaluation of monetary policy in the US and Europe

Leith, Campbell B.; Malley, James R. - 2002

A persistent criticism of general equilibrium models of monetary policy which incorporate nominal inertia in the form of the New Keynesian Phillips Curce (NKPC) is that they fail to capture the extent of inflation inertia in the data. In this paper we derive a general equilibrium model based on...

Persistent link: https://www.econbiz.de/10001666059

Economic growth and endogenous fiscal policy : in search of a data consistent general equilibrium model

Malley, James R.; Philippopulos, Apostolēs - 2000

This paper searches for a general equilibrium model of optimal growth and endogenous fiscal policy with the aim of explaining the interaction between private agents and fiscal authorities in the U.S., West Germany, Japan and the U.K. over the period 1960-1996. Our search is conducted in the...

Persistent link: https://www.econbiz.de/10001452355

Vertical product differentiation and the import demand function : theory and evidence

Malley, James R.; Moutos, Thomas - 2000

In this paper we use a model of vertical product differentiation to cast doubt on the general validity of the import demand function as specified in macroeconomic models. The empiricai importance of our theoretical concerns is then examined with the aid of two hypotheses. According to the first...

Persistent link: https://www.econbiz.de/10001564519

A sectoral analysis of price-setting behavior in US manufacturing industries

Leith, Campbell B.; Malley, James R. - 2003

In this paper we develop a multi-sector model of firms' pricing behaviour under imperfect competition. We allow for the fact that some goods sold will be for final consumption, while others will be used as intermediate goods in further production. We assume that price setters are constrained by...

Persistent link: https://www.econbiz.de/10001775071