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This paper presents a new measure of aggregate trade restrictions (MATR) using data from the International Monetary Fund's Annual Report on Exchange Arrangements and Exchange Restrictions. MATR is strongly correlated with existing measures of trade restrictiveness but is more comprehensive in...
Persistent link: https://www.econbiz.de/10014316167
We study nominal GDP targeting as optimal monetary policy in a model with a credit market friction following Azariadis, Bullard, Singh and Suda (2018), henceforth ABSS. As in ABSS, the macroeconomy we study has considerable income inequality which gives rise to a large private sector credit...
Persistent link: https://www.econbiz.de/10011691592
Persistent link: https://www.econbiz.de/10013348004
prices are constructed for housing expenditure and for services. Weights for these parts of household budgets and the … residual are found from panel surveys of household consumption. Relative prices of the consumption bundle for each year in the …, employees and workers are constructed. Combining data on incomes and on relative prices gives estimates of real incomes. The …
Persistent link: https://www.econbiz.de/10012142219
This paper tries to clarify the logical structure of the relationship between labour values and prices from an …
Persistent link: https://www.econbiz.de/10011596404
between the exchange rate and prices in Mexico and the US (its main commercial partner), there are other forces affecting the …
Persistent link: https://www.econbiz.de/10011927050
We use transaction-level US import data to compare firms from virtually all countries in the world competing in a single destination market. Guided by a simple theoretical framework, we decompose countries' market shares into the contribution of the number of firm-products, their average...
Persistent link: https://www.econbiz.de/10011933430
especially to global demand fluctuations associated with declines in commodity prices. However, despite the similarities that …
Persistent link: https://www.econbiz.de/10012117480
Persistent link: https://www.econbiz.de/10011760074
-intensive sectors asymmetrically: prices of labor-intensive goods change less than do prices of capital-intensive goods. In addition …, when prices are costly to adjust, more firms in the capital-intensive sectors optimally choose to update their prices than …
Persistent link: https://www.econbiz.de/10004965415