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The propagation of tariff shocks via production networks

Antonova, Anastasiia; Huxel, Luis; Matvieiev, Mykhailo; … - 2025

Imports feature at all stages of production as well as in final consumption, and this is key to how tariff shocks play out. If imposed on imports in upstream sectors, import tariffs lower domestic output in downstream sectors; if imposed downstream, they raise upstream production. The aggregate...

Persistent link: https://www.econbiz.de/10015407816

Equilibrium unemployment, job flows and inflation dynamics

Trigari, Antonella - 2004

general equilibrium model that integrates a theory of equilibrium unemployment into a monetary model with nominal price … worker, job creation and job destruction conditional on a shock to monetary policy. Moreover, allowing for variation of the … helps to explain the sluggishness of inflation and the persistence of output after a monetary policy shock. The ability of …

Persistent link: https://www.econbiz.de/10009636527

Heterogeneous consumers, segmented asset markets, and the effects of monetary policy

Enders, Zeno - 2012

This paper examines how segmented asset markets can generate real and nominal effects of monetary policy. I develop a model, in which varieties of consumption bundles are purchased sequentially. Newly injected money thus disseminates slowly through the economy via second-round effects and...

Persistent link: https://www.econbiz.de/10009679087

Non-uniform staggered prices and output persistence

Söderberg, Johan - 2009

Staggered prices are a fundamental building block of New Keynesian dynamic stochastic general equilibrium models. In the standard model, prices are uniformly staggered but recent empirical evidence suggest that deviations from uniform staggering are common, This paper analyzes how...

Persistent link: https://www.econbiz.de/10003912117

Heterogeneous consumers, segmented asset markets, and the real effects of monetary policy

Enders, Zeno - 2017

This paper proposes a novel mechanism by which changes in the distribution of money holdings have real effects. Specifically, I develop a flexible-price model of segmented asset markets that generates real aggregate effects of monetary policy through the dependence of optimal markups on the...

Persistent link: https://www.econbiz.de/10011653639

From the Great Inflation to the Great Moderation : Assessing the Roles of Firm-Specific Labor, Sticky Prices and Labor Supply Shocks

Khaznaji, Maher - 2008

We develop and estimate a dynamic stochastic general equilibrium model that features sticky prices, a variable elasticity of demand facing firms and firm-specific labor. While reconciling to a good extent the micro and macro evidence on the behavior of prices, the model offers an accurate...

Persistent link: https://www.econbiz.de/10012723708

Macro uncertainty and unemployment risk

Oh, Joonseok; Rogantini Picco, Anna - 2020

This paper shows how uninsurable unemployment risk is crucial to qualitatively and quantitatively match macro responses to uncertainty shocks. Empirically, uncertainty shocks i) generate deflationary pressure; ii) have considerably negative consequences on economic activity; iii) produce a drop...

Persistent link: https://www.econbiz.de/10012296809

How should central banks react to household inflation heterogeneity?

Neyer, Ulrike; Stempel, Daniel - 2022

of the households' consumer price inflation rates or their individual rates, respectively. After a negative demand shock … less under that regime. After a negative supply shock, a central bank only considering the household experiencing the … higher inflation rate mitigates the immediate effects of the shock on both consumer price inflation rates more effectively …

Persistent link: https://www.econbiz.de/10012803661

Learning to Forecast and Cyclical Behavior of Output And Inflation

Adam, Klaus - 2004

This paper considers a sticky price model with a cash-in-advance constraint where agents forecast inflation rates with the help of econometric models. Agents use least squares learning to estimate two competing models of which one is consistent with rational expectations once learning is...

Persistent link: https://www.econbiz.de/10014124809

Fiscal foundations of inflation : imperfect knowledge

Eusepi, Stefano; Preston, Bruce - 2013

This paper proposes a theory of the fiscal foundations of inflation based on imperfect knowledge and learning. The … theory is similar in spirit to, but distinct from, unpleasant monetarist arithmetic and the fiscal theory of the price level …

Persistent link: https://www.econbiz.de/10010202656