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https://hdl.handle.net/10419/26097
Kompletter Metadatensatz
DublinCore-Feld | Wert | Sprache |
---|---|---|
dc.contributor.author | Plasmans, Joseph | en |
dc.contributor.author | Fornero, Jorge | en |
dc.contributor.author | Michalak, Tomasz | en |
dc.date.accessioned | 2007-07-27 | - |
dc.date.accessioned | 2009-07-28T08:15:54Z | - |
dc.date.available | 2009-07-28T08:15:54Z | - |
dc.date.issued | 2007 | - |
dc.identifier.uri | http://hdl.handle.net/10419/26097 | - |
dc.description.abstract | In this paper we derive a microfounded macro New Keynesian model for open economies, be them large or small. We consider habit formation in consumption, sectoral linkages for tradable and non-tradable goods, capital stock investments with variable capital utilization, domestic and foreign governments, imperfect (exchange rate) pass-through in import prices and incomplete international financial markets. Sticky nominal prices and wages are modeled in Calvo and Taylor staggered ways. The model economy is composed of a continuum of infinitely-lived consumers and producers of final and intermediate goods. We provide a very general log-linearization method, from which we can easily obtain various special cases, as trend inflation or steady-state log-linearizations. Numerical simulations of the two-country sectoral model are provided for a relatively large number of structural shocks as domestic and foreign productivity shocks in final tradables and non-tradables, money demand shocks and a shock in the exchange rate. Such a model is well suited for monetary policy analysis at the international level and risk analysis. | en |
dc.language.iso | eng | en |
dc.publisher | |aCenter for Economic Studies and ifo Institute (CESifo) |cMunich | en |
dc.relation.ispartofseries | |aCESifo Working Paper |x2052 | en |
dc.subject.jel | E31 | en |
dc.subject.jel | D21 | en |
dc.subject.jel | F41 | en |
dc.subject.jel | P24 | en |
dc.subject.ddc | 330 | en |
dc.subject.stw | Ungleichgewichtstheorie | en |
dc.subject.stw | Offene Volkswirtschaft | en |
dc.subject.stw | Mehr-Sektoren-Modell | en |
dc.subject.stw | Handelbares Gut | en |
dc.subject.stw | Nicht-handelbares Gut | en |
dc.subject.stw | Vorprodukt | en |
dc.subject.stw | Mikroökonomische Fundierung | en |
dc.subject.stw | Theorie | en |
dc.title | A microfounded sectoral model for open economies | - |
dc.type | Working Paper | en |
dc.identifier.ppn | 538343370 | en |
dc.rights | http://www.econstor.eu/dspace/Nutzungsbedingungen | en |
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