This paper revisits the relationship between competition and total factor productivity by analyzing how the type and the degree of product and labor market imperfections a¤ect di¤erent moments of total factor productivity distributions. Following the methodology developed in Dobbelaere and...

In this paper we derive a microfounded macro New Keynesian model for open economies, be them large or small. We consider habit formation in consumption, sectoral linkages, domestic and foreign governments, tradable and non-tradable final and intermediate goods and imperfect pass-through in these...