It has been shown that under perfect competition and a Cobb-Douglas production function, a basic real business cycle … production functions, namely a constant elasticity of substitution production function. We show that the degree of … substitutability between production factors is a key ingredient to understand the (de)stabilising properties of a balanced-budget rule …

This paper presents new annual estimates of U.S. production of pig iron and imports of pig iron products dating back to … 1827. These estimates are used to assess the vulnerability of the antebellum iron industry to foreign competition and the … role of the tariff in fostering the industry's early development. Domestic pig iron production is found to be highly …

This paper presents new annual estimates of U.S. production of pig iron and imports of pig iron products dating back to … 1827. These estimates are used to assess the vulnerability of the antebellum iron industry to foreign competition and the … role of the tariff in fostering the industry's early development. Domestic pig iron production is found to be highly …

Consider the monetary model of Lagos and Wright (JPE 2005) but with general preferences and general production. I show …