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Imperfect mobility of labor across sectors: a reappraisal of the Balassa-Samuelson effect.
Cardi, Olivier; Restout, Romain - Bureau d'Économie Théorique et Appliquée (BETA), … - 2014
This paper investigates the relative price and relative wage effects of a higher productivity in the traded sector compared with the non traded sector in a two-sector open economy model with imperfect substitutability in hours worked across sectors. The Balassa- Samuelson [1964] model predicts...
Persistent link: https://www.econbiz.de/10010929620
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Unanticipated vs. Anticipated Tax Reforms in a Two-Sector Open Economy
Cardi, Olivier; Restout, Romain - In: Open Economies Review 25 (2014) 2, pp. 373-406
unanticipated and anticipated tax reforms. First, an unanticipated tax reform produces an expansion of GDP, labor, and investment … dispersion in sectoral output responses. As long as investment is both traded and non traded, a tax reform substantially raises …
Persistent link: https://www.econbiz.de/10010865310
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Competition and the Ratchet Effect
Cardi, Olivier; Restout, Romain - Groupe d'Analyse et de Théorie Économique Lyon … - 2008
The ‘ratchet effect’ refers to a situation where a principal uses private information that is revealed by an agent’s early actions to the agent’s later disadvantage, in a context where binding multi-period contracts are not enforceable. In a simple, context-rich environment, we...
Persistent link: https://www.econbiz.de/10005056884
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Fiscal shocks in a two sector open economy with endogenous markups.
Cardi, Olivier; Restout, Romain - Bureau d'Économie Théorique et Appliquée (BETA), … - 2012
particular, the model can produce a drop in investment and in the current account, in line with empirical evidence, only if the …
Persistent link: https://www.econbiz.de/10010584065
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Fiscal Shocks in a Two Sector Open Economy
Cardi, Olivier; Restout, Romain - HAL - 2011
in investment and in the current account, in line with em- pirical evidence, only if the traded sector is more capital …
Persistent link: https://www.econbiz.de/10010821494
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Habit Formation and Fiscal Transmission in Open Economies
Cardi, Olivier; Müller, Gernot - C.E.P.R. Discussion Papers - 2010
model. We find that i) government spending increases output and induces a simultaneous decline of investment and the current … account, but does not affect consumption; ii) the responses of output and investment are smaller in more open economies, while … simultaneous decline in investment and the current account. …
Persistent link: https://www.econbiz.de/10008684676
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Habit formation and fiscal transmission in open economies
Cardi, Olivier; Müller, Gernot J. - In: Journal of International Economics 85 (2011) 2, pp. 256-267
inducing a simultaneous decline of investment and the current account and ii) the responses of output and investment are more …
Persistent link: https://www.econbiz.de/10011056347