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Monopolistic competition, sticky prices, and the minimal mark-up in steady state
(2007)
Documento de trabajo / Lan gaiak,
This note reports the rate of inflation that minimizes the mark-up of prices over marginal costs in the steady-state solution of a monopolistic competition model with either Taylor (1980) or Calvo (1983) pricing. The minimal ...
The great moderation of inflation: a structural analysis of recent U.S. monetary business cycles
(2012)
Documento de trabajo / Lan gaiak,
U.S. inflation has experienced a great moderation in the last two decades. This paper examines the factors behind this and other stylized facts, such as the weaker correlation of inflation and nominal interest rate (Gibson ...
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 ...
A structural analysis of US entry and exit dynamics
(2018)
Documento de trabajo / Lan gaiak,
The authors report empirical evidence indicating that US business formation has recently turned
more volatile, procyclical and persistent due to changes in exit dynamics. To study these
stylized facts, we estimate a DSGE ...
A dynamic model of COVID-19: contagion and implications of isolation enforcement
(2020)
Documento de trabajo / Lan gaiak,
We present a dynamic model that produces day-to-day changes in key variables due to the COVID-19 contagion: the number of ever infected people, currently infected, deaths, healed, and infected people who require hospitalization. ...
Did US business dynamism recover in the 2010s?
(2021)
info:eu-repo/semantics/workingPaper,
We provide evidence that both firm and establishment entry rates in the US have been increasing over the past decade, seemingly ending the secular decline observed over previous decades. However, the job-size of new ...
COVID-19 pandemic and economic scenarios for Ontario
(2020)
info:eu-repo/semantics/workingPaper,
To study the efficacy of the public policy response to the COVID-19 pandemic, we develop a model of the rich interactions between epidemiology and socioeconomic choices. Preferences feature a 'fear of death' that lead ...