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Monetary policy and the relative price of durable goods
Cantelmo, Alessandro; Melina, Giovanni - 2017
sticky as nondurables, leading to a flat relative price response to a monetary shock. Conversely, house prices are estimated …
Persistent link: https://www.econbiz.de/10011781267
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Capital gaps, risk dynamics, and the macroeconomy
Lipinsky, Fabian T.; Miescu, Mirela S. - 2020
Motivated by the increasing interest in analyzing the links between the financial sector and the real economy, we develop a macro-financial structural model with two novel features. First, we include idiosyncratic and aggregate risk in a tractable general equilibrium model. This allows us to...
Persistent link: https://www.econbiz.de/10012391995
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Monetary Policy and Relative Price Shocks in South Africa and Other Inflation Targeters
Cuevas, Alfredo - 2008
When faced with a relative price shock, monetary authorities often aim to contain its second round effects on inflation …
Persistent link: https://www.econbiz.de/10014401982
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News shocks in open economies : evidence from giant oil discoveries
Arezki, Rabah; Ramey, Valerie A.; Sheng, Liugang - 2015
Persistent link: https://www.econbiz.de/10011373999
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Evolution of the Relative Price of Goods and Services in a Neoclassical Model of Capital Accumulation
Klyuev, Vladimir - 2004
This paper provides an explanation for the secular increase in the price of services relative to that of manufactured goods that relies on capital accumulation rather than on an exogenous total factor productivity growth differential. The key assumptions of the two-sector, intertemporal...
Persistent link: https://www.econbiz.de/10014404038
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Government Purchases and Relative Prices in a Two-Country World
International Monetary Fund - 1989
The effects of government expenditures on interest rates, terms of trade, and real exchange rates are examined in a three-good (importables, exportables, nontradables), two-country, intertemporal, optimizing model. Temporary spending increases (on tradable or nontradable goods) may raise or...
Persistent link: https://www.econbiz.de/10014396165
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Optimal Monetary Policy in a Small Open Economy Under Segmented Asset Markets and Sticky Prices
Medina Guzman, Juan Pablo - 2007
This paper studies optimal monetary policy in a two-sector small open economy model under segmented asset markets and sticky prices. We solve the Ramsey problem under full commitment, and characterize the optimal monetary policy in a calibrated version of the model. The findings of the paper are...
Persistent link: https://www.econbiz.de/10014399992
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Labor Market Segmentation in a Two-Sector Model of An Open Economy
Demekas, Dimitri G. - 1990
The paper examines formally the effects of labor market segmentation in a two-sector open economy model. The model demonstrates how the structure of the labor market affects the real exchange rate, defined as the relative price of traded and home goods, and is then used to examine the effects of...
Persistent link: https://www.econbiz.de/10014396314
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Crowding-out or crowding-in? : public and private investment in India
Bahal, Girish; Raissi, Mehdi; Tulin, Volodymyr - 2015
This paper contributes to the debate on the relationship between public-capital accumulation and private investment in … the past three decades, we study whether public investment in recent years has become more or less complementary to … private investment in comparison to the period before 1980. Second, we construct a novel data-set of quarterly aggregate …
Persistent link: https://www.econbiz.de/10011445833
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Physical Capital Adjustment within Spain : Long-Run and Short-Run Analysis
Spilimbergo, Antonio - 2001
return. In the short run, an adverse shock to a region results in a sharp drop in employment and a gradual decline of …
Persistent link: https://www.econbiz.de/10014403837