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Caselli, Francesco; Wilson, Daniel - Federal Reserve Bank of San Francisco - 2003

We look at disaggregated imports of various types of equipment to make inferences on cross-country differences in the composition of equipment investment. We make three contributions. First, we document large differences in investment composition. Second, we explain these differences as being...

Persistent link: https://www.econbiz.de/10005401584

Real exchange rate dynamics in sticky-price models with capital

Carvalho, Carlos; Nechio, Fernanda - Federal Reserve Bank of San Francisco - 2012

The standard argument for abstracting from capital accumulation in sticky-price macro models is based on their short …-run focus: over this horizon, capital does not move much. This argument is more problematic in the context of real exchange rate … (RER) dynamics, which are very persistent. In this paper we study RER dynamics in sticky-price models with capital …

Persistent link: https://www.econbiz.de/10010558500