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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...
Persistent link: https://www.econbiz.de/10002101549
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involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …
Persistent link: https://www.econbiz.de/10002521761
exchange rates have a modest effect on domestic price inflation while import prices have a stronger effect. Pass-through is …
Persistent link: https://www.econbiz.de/10001512201
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The acceleration of productivity since 1995 has prompted a debate over whether the economy's underlying growth rate … identify variables other than productivity - namely consumption and labor compensation - to help estimate trend productivity … direction. In addition, we find that productivity data alone provide insufficient evidence of regime changes; corroborating …
Persistent link: https://www.econbiz.de/10001751984