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A portfolio-choice model to analyze the recent gross capital flows between Canada and the US
(2019)
info:eu-repo/semantics/workingPaper,
We calibrate a two-country New Keynesian model with endogenous portfolio choice and valuation effects to discuss the determinants of the increase in Canadian Net Foreign Assets with the US
observed after 2012. Furthermore, ...
On staggered prices and optimal inflation
(2019)
info:eu-repo/semantics/workingPaper,
This paper computes the steady-state optimal rate of inflation assuming two different sticky-price
specifications, Calvo (1983) and Taylor (1980), in a model with monopolistic competition. The optimal
rate of inflation ...
On financial frictions and firm market power
(Banco de España, 2019)
Documento de trabajo / Lan gaiak,
Construimos un modelo de equilibrio general estático con empresas monopolísticamente competitivas que toman prestados fondos de bancos competitivos en una economía sujeta a restricciones financieras. Estas fricciones son ...