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Firing costs and the business cycle : policy implications in light of the financial crisis

Brown, Alessio J. G.; Merkl, Christian; Lechthaler, Wolfgang - In: The crisis and beyond, (pp. 136-143). 2009

Persistent link: https://www.econbiz.de/10003941632

International trade and monopolistic competition without CES : estimating translog gravity

Novy, Dennis - 2010

Persistent link: https://www.econbiz.de/10003951521

International trade and monopolistic competition without CES : estimating translog gravity

Novy, Dennis - 2010

equations, trade is more sensitive to trade costs if the exporting country only provides a small share of the destination … country's imports. As a result, trade costs have a heterogeneous impact across country pairs, with some trade flows predicted … modest or indistinguishable from zero. -- translog ; trade costs ; gravity ; currency union ; monopolistic competition …

Persistent link: https://www.econbiz.de/10003956003

Optimal monetary policy in a currency union : the role of the cost channel

Michaelis, Jochen - 2012

In this paper we introduce the cost channel of monetary policy (e.g., Ravenna and Walsh, 2006) into an otherwise standard New Keynesian model of a two-country monetary union, which is being hit by aggregate, asymmetric and idiosyncratic shocks. The single central bank implements the optimal...