We estimate the macroeconomic benefits and international spillovers of an increase in competition using a general …-equilibrium simulation model with nominal rigidities and monopolistic competition in product and labor markets. We draw three conclusions … after calibrating the model to the euro area against the rest of the industrial world. First, greater competition produces …

increased its imported inputs, boosting Chinese firms' productivity and their export values and varieties. Lower input tariffs … also reduced Chinese export prices to the U.S. market. In contrast, PNTR had no effect on Chinese productivity or export …

We estimate a model of urban productivity in which the agglomeration effect of density is enhanced by a metropolitan … area's stock of human capital. Estimation accounts for potential biases due to the endogeneity of density and industrial … accounts for the spatial distribution of population, we find that a doubling of density increases productivity by 2 to 4 …

This paper provides an empirical investigation into the determinants and stability of the aggregate wage inflation … Phillips curve model that links wage growth to its past values as well as to the unemployment rate, price inflation, labor … productivity growth, and an additional set of labor market variables. The results do not reject the hypothesis that real wages and …

involving U.S. inflation and GDP growth. Empirical results suggest that the number of change points is larger than previously …