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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 …
Persistent link: https://www.econbiz.de/10003669516
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...
Persistent link: https://www.econbiz.de/10010283479
A currency area can be a self-validating optimal policy regime, even when monetary unification does not foster real economic integration and intra-industry trade. In our model, firms choose the optimal degree of exchange rate pass-through to export prices while accounting for expected monetary...
Persistent link: https://www.econbiz.de/10010283487
This paper builds a general test of contagion in financial markets based on bivariate correlation analysis - a test that can be interpreted as an extension of the normal correlation theorem. Contagion is defined as a structural break in the data generating process of rates of return. Using a...
Persistent link: https://www.econbiz.de/10010369183