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Short-Term Pain for Long-Term Gain : Market Deregulation and Monetary Policy in Small Open Economies

Cacciatore, Matteo - 2015

This paper explores the effects of labor and product market reforms in a New Keynesian, small open economy model with labor market frictions and endogenous producer entry. We show that it takes time for reforms to pay off, typically at least a couple of years. This is partly because the benefits...

Persistent link: https://www.econbiz.de/10012456887

Market Deregulation and Optimal Monetary Policy in a Monetary Union

Cacciatore, Matteo - 2013

The wave of crises that began in 2008 reheated the debate on market deregulation as a tool to improve economic … policy to reduce transition costs. Third, deregulation reduces static and dynamic inefficiencies, making price stability more … desirable. International synchronization of reforms can eliminate policy tradeoffs generated by asymmetric deregulation …

Persistent link: https://www.econbiz.de/10012459637

Market Structure and Monetary Non-neutrality

Mongey, Simon - National Bureau of Economic Research - 2021

I study a general equilibrium menu cost model with a continuum of sectors, idiosyncratic and aggregate shocks, and the novel feature that each sector consists of strategically engaged firms. Compared to an economy with monopolistically competitive sectors--separately parameterized to match the...

Persistent link: https://www.econbiz.de/10012629453