Browsing Documentos de trabajo - Lan gaiak by Subject "Real rigidities"

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Business cycle and monetary policy analysis with market rigidities and financial frictions

Casares Polo, Miguel ; Deidda, Luca; Galdón Sánchez, José Enrique (2013) Documento de trabajo / Lan gaiak

We describe a dynamic macroeconomic model that incorporates firm-level borrowing constraints, competitive CES loan production, and rigidities on both setting prices and wages. The external finance premium (interest-rate ...