account deficits and investment rises. Fourth, the strength of the relative price appreciation following sector productivity …

account deficits and investment rises. Fourth, the strength of the relative price appreciation following sector productivity …

-neutral and provides a strong magnification mechanism for shocks to productivity. The empirical evidence of these predictions are …

account deficits and investment rises. Fourth, the strength of the relative price appreciation following sector productivity …

This paper addresses the role of markup variations in the transmission process of cross-sectoral productivity … frictionless goods markets predicts that a rise in the sectoral productivity ratio by 1% raises the relative price by 1% while … productivity by 1% raises the relative price of nontradables by only 0.70% and that an increase in government spending by 1% of GDP …

pressures along the year led to the unfulfillment of the inflation target established by the Banco de la República, with a rate … need to reduce the inflation rate by the means of the rise in interest rates compromised the role of monetary and exchange …

Are government spending shocks inflationary at the zero lower bound (ZLB)? Despite the importance of the inflation … Keynesian models, which predict a larger fiscal multiplier following fiscal expansion at the ZLB - driven by rising inflation …