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realistic parameter values, the model generates a blip in inflation of the same magnitude observed in the data"--Federal Reserve …
Persistent link: https://www.econbiz.de/10002521760
We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions after calibrating the model to the euro area...
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involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …
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exchange rates have a modest effect on domestic price inflation while import prices have a stronger effect. Pass-through is …
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