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The choice of a foreign price measure in a Bayesian estimated new-Keynesian model for Israel

Argov, Eyal - In: Economic Modelling 29 (2012) 2, pp. 408-420

elsewhere worldwide, inflation rose in Israel due to high commodity prices in global markets. However, our baseline model … attributes most of the high inflation in 2007 to supply shocks. One conjecture is that this model's result derives from the … performance of the original choice while improving the 2007 interpretation of inflation, and should therefore be considered the …

Persistent link: https://www.econbiz.de/10010573272

A note on firm entry, markups and the business cycle

Cavallari, Lilia - In: Economic Modelling 35 (2013) C, pp. 528-535

This paper proposes a monetary model with firm entry as a means for alleviating the difficulties of real business cycle models in reproducing the smoothness and persistence of macroeconomic variables together with the volatility of profits and markups. Simulations show that my baseline model...

Persistent link: https://www.econbiz.de/10010719410

Financial market frictions in a model of the Euro area

Lombardo, Giovanni; McAdam, Peter - In: Economic Modelling 29 (2012) 6, pp. 2460-2485

We build a model of the euro area incorporating financial market frictions at the level of firms and households. Entrepreneurs borrow from financial intermediaries in order to purchase business capital, in the spirit of the “financial accelerator” literature. We also introduce two types of...

Persistent link: https://www.econbiz.de/10011048720