Author: Publisher: Fundacion BBVA
ISBN:
Category :
Languages : en
Pages : 56
Book Description
The New Keynesian Monetary Model. Does it Show the Comovement between Output and Inflation in the U.S. and the Euro Area?
Author: Identifying Human Capital Externalities
Author: Antonio CicconePublisher: Fundacion BBVA
ISBN:
Category : Human capital
Languages : en
Pages : 73
Book Description
On Capturing Rent from a Non-Renewable Resource International Monopoly
Author: Santiago J. Rubio JorgePublisher: Fundacion BBVA
ISBN:
Category :
Languages : en
Pages : 52
Book Description
Dynamic Mixed Duopoly
Author: Ramon Casadesus-MasanellPublisher: Fundacion BBVA
ISBN:
Category :
Languages : en
Pages : 41
Book Description
This paper analyzes a dynamic mixed duopoly in which a profit-maximizing competitor interacts with a competitor that prices at zero (or marginal cost), with the cumulation of output affecting their relative positions over time. The modeling effort is motivated by interactions between Linux, an open-source operating system, and Microsoft's Windows in the computer server segment, and consequently emphasizes demand-side learning effects that generate dynamic scale economies (or network externalities). Analytical characterizations of the equilibrium under such conditions are offered, and some comparative static and welfare effects are examined.
The Economic Impact of Migration: Productivity Analysis for Spain and the United Kingdom
Author: Measuring International Economic Intergration
Author: Monetary Policy, Inflation, and the Business Cycle
Author: Jordi GalíPublisher: Princeton University Press
ISBN: 1400866278
Category : Business & Economics
Languages : en
Pages : 295
Book Description
The classic introduction to the New Keynesian economic model This revised second edition of Monetary Policy, Inflation, and the Business Cycle provides a rigorous graduate-level introduction to the New Keynesian framework and its applications to monetary policy. The New Keynesian framework is the workhorse for the analysis of monetary policy and its implications for inflation, economic fluctuations, and welfare. A backbone of the new generation of medium-scale models under development at major central banks and international policy institutions, the framework provides the theoretical underpinnings for the price stability–oriented strategies adopted by most central banks in the industrialized world. Using a canonical version of the New Keynesian model as a reference, Jordi Galí explores various issues pertaining to monetary policy's design, including optimal monetary policy and the desirability of simple policy rules. He analyzes several extensions of the baseline model, allowing for cost-push shocks, nominal wage rigidities, and open economy factors. In each case, the effects on monetary policy are addressed, with emphasis on the desirability of inflation-targeting policies. New material includes the zero lower bound on nominal interest rates and an analysis of unemployment’s significance for monetary policy. The most up-to-date introduction to the New Keynesian framework available A single benchmark model used throughout New materials and exercises included An ideal resource for graduate students, researchers, and market analysts
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