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varieties of goods and services and do not account for firms' entry in the product market. In this paper we revisit the …
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of goods and services and do not account for firms' entry in the product market. In this paper we revisit the …
Persistent link: https://www.econbiz.de/10012759531
of goods and services and do not account for firms' entry in the product market. In this paper we revisit the …
Persistent link: https://www.econbiz.de/10012464851
those related to firms' lower cost of entry or product differentiation. Our model suggests that countries with lower … manufacturing costs have higher GDP but supply a smaller number of goods at a lower international price. Countries with lower entry … domestic demand has macroeconomic implications that are similar to those of a reduction in firms' entry costs …
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This paper provides a baseline general-equilibrium model of optimal monetary policy among interdependent economies with monopolistic firms that set prices one period in advance. Strict adherence to inward-looking policy objectives such as the stabilization of domestic output cannot be optimal...
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We study the interaction of fiscal and monetary policies during a currency crisis in an economy with government nominal liabilities. We show that the stock and maturity of these liabilities are key determinants of the magnitude, timing and predictability of a devaluation. Among notable features...
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