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This paper compares the welfare implications of two widely used pricing assumptions in the New-Keynesian literature: Calvo-pricing vs. Rotemberg-pricing. We show that despite the strong similarities between the two assumptions to a first order of approximation, in general they might entail...
Persistent link: https://www.econbiz.de/10005275581
We compute the tradable and non-tradable input shares for consumption and investment from the latest release of OECD input–output tables. We document that input shares (the content of tradable and non-tradable goods per unit of final demand) differ substantially from final demand shares (the...
Persistent link: https://www.econbiz.de/10010594126