Weber, Henning - 2013 - Preliminary
-price model with learning-by-doing in new firms fits this data and predicts that for plausible calibrations, the optimal long … without learning-by-doing in new firms predicts an optimal long-run inflation rate near zero. In a two-sector model with … learning-by-doing in new firms, the policy tradeo that arises between new and incumbent firms is considerably more severe than …